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Common rules and new framework for securitisation [EU Legislation in Progress]

Written by Angelos Delivorias (3rd edition),

Common rules and new framework for securitisation

© Kurt Kleemann / Fotolia

In autumn 2015, the European Commission proposed a regulation on securitisation, in the context of the Capital Markets Union initiative. The proposal followed a consultation with stakeholders and took into account initiatives at international (BCBS-IOSCO) and European levels (EBA). The proposal replaces existing rules relating to due diligence, risk retention, transparency and supervision with a uniform regime. It provides a framework to identify simple, transparent and standardised (STS) securitisations and to allow investors to analyse associated risks. The proposal came as a package with a second proposal, to amend the Capital Requirements Regulation applicable to credit institutions and investment firms in respect of securitisation. During the October II plenary session, the European Parliament is due to vote on the compromise agreement struck with the Council in May 2017.

See also our briefing on the related proposal: 2015/0225(COD).

Versions:

 

Proposal for a Regulation of the European Parliament and of the Council laying down common rules on securitisation and creating a European framework for simple, transparent and standardised securitisation and amending Directives 2009/65/EC, 2009/138/EC, 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012
Committee responsible:

Rapporteur:

Economic and Monetary Affairs (ECON)

Paul Tang (S&D, The Netherlands)

COM(2015) 472 of 30.09.2015

procedure ref.: 2015/0226(COD)

Ordinary legislative procedure

Next steps expected: First-reading vote in plenary

Stage: vote in plenary

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The content of all documents (and articles) contained in this blog is the sole responsibility of the author and any opinions expressed therein do not necessarily represent the official position of the European Parliament. It is addressed to the Members and staff of the EP for their parliamentary work. Reproduction and translation for non-commercial purposes are authorised, provided the source is acknowledged and the European Parliament is given prior notice and sent a copy. Copyright © European Union, 2014. All rights reserved

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