WebTo qualify for the STS designation, a securitization transaction will have to meet several criteria. While these requirements are not new to the market generally, they will apply more widely under the Securitisation Regulation. With the introduction of STS criteria for on-balance-sheet securitisations in the Securitisation Regulation, on-balance-sheet securitisations are now eligible for preferential risk-weight treatment under the Capital Requirements Regulation (CRR). WebThe Securitisation Regulation sets out an optional process whereby an authorized third party can attest to the satisfaction of the STS criteria. The Consultation Paper is composed of two sections. On January 17, 2018 two EU Regulations setting out a new framework for European securitisation entered into force. 2) Ultimately, we demonstrate that the new EU regulation has provided for an effective and efficient Securitization market by ensuring that investors are protected by strict compliance to the STS Securitization criteria and proper overall supervision: I could not find any demonstration (i.e. Specifically, the underlying exposures must have, at the time of inclusion in the securitisation , a risk weight equal to or smaller than: For residential and commercial mortgage loan backed securitisations, loans backed by second and third mortgages can only be included in the securitisation where all loans secured by the first mortgages on that asset are also included in the securitisation. Simple, Transparent and Standardised (STS) Securitisation | FCA - Financial Conduct Authority Third party certification, however, will not absolve originators, sponsors and issuers from liability for making STS assertions that turn out to be false. Transaction-level criteria 37 6. Some criteria take into account cases where a special purpose entity is not WebGuidelines on the STS criteria for ABCP securitisation The following competent authorities* comply or intend to comply with the EAs Guidelines on the STS criteria for the ABCP securitisation: Competent authority Complies or intends to comply Comments Member State BE Belgium National Bank of Belgium Yes As at 03.03.2021, notification Webtransparent and standardised (STS) securitisation. was published which, among other things, included guidance on whether mortgages secured by non- owner occupied residential / mixed -use real estate properties comply with the STS Norton Rose Fulbright 2023. Securitisation 03/02/2022 The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, has launched its Simple, Transparent and STS securitisation criteria WebAs a third-party verifier authorised and supervised by BaFin, SVI uses a standardised procedure to verify whether securitisations meet the STS criteria laid down in Articles 19 to 22 of the Securitisation Regulation (for non-ABCP securitisations, i.e. The Securitisation Regulations came into effect in the UK and EU on 1 January 2019.2 The UK played a full and active role in their design as an EU member state, and HM The STS initiative is designed to breathe new life into the securitisation market by affording to bank investors favourable regulatory capital treatment 3 in relation to their holdings of notes in compliant offerings. Legal Update - Mayer Brown WebThe Securitisation Regulation is a cornerstone of the EUs efforts to establish a Capital Markets Union. For a limited number of these criteria, the Guidelines for non-ABCP and ABCP securitisation have been updated to ensure further clarity and to reflect on the practical implementation of the criteria. Securitisation Internal Ratings Based Approach (SEC-IRBA): uses an institutions own internal r Securitisation Webadoption of the STS criteria by originators, sponsors and investors. The European Banking Authority (EBA) has published a consultation on its draft Guidelines, which will provide a harmonised interpretation of the criteria for a securitisation to be eligible as simple, transparent and standardised (STS). ESMA should also play an active role in addressing potential interpretation issues. WebFor those reasons, the STS criteria should not allow synthetic securitisation. Criteria related to standardisation 38 6. Third party certification, however, will not absolve originators, sponsors and issuers from liability for making STS assertions that turn out to be false. to (1) Improve the understanding of the securitisation and facilitate deeper knowledge of its structure and functioning; (2) Analyse the importance of the STS criteria for securitisation and (3) Gather factual evidence from industry experts on how the regulation impacts Malta as a small state jurisdiction. However, for many of the criteria, market participants will require more detail It applies to all securitisation products and includes due diligence, risk Final Report WebFor those reasons, the STS criteria should not allow synthetic securitisation. Additional guidance for both non-ABCP and ABCP securitisation (Recital 20): EBA Guidelines on interpretation of STS criteria: Public Hearing, 11 June 2018 2 Securitisation Internal Ratings Based Approach (SEC-IRBA): uses an institutions own internal rating models that must be pre-approved by the institutions regulator. securitisation In the following sub-section II., the individual STS criteria referred to above are briefly described, the relevant characteristics of expectancy rights are highlighted and an explanation is provided how the relevant STS criteria is complied with. The European Banking Authority (EBA) launched today a public consultation on its draft Guidelines on the criteria related to simplicity, standardisation and transparency and additional specific criteria for on-balance-sheet securitisations (so-called STS criteria). The Guidelines, developed for both non asset-backed commercial paper (ABCP) and ABCP securitisation, clarify and ensure a common understanding of all the STS criteria, including those related to the expertise of the originator and servicer, the underwriting of standards, exposures in default and credit impaired debtors, and predominant reliance on the sale of assets. Implementation 35 4. 1.7 These two regulations are referred to as the Securitisation Regulations. EUR-Lex - 52015PC0472 - EN - EUR-Lex STS verification - STS Verification International GmbH Securitisation To qualify as UK STS, the originators and sponsor of a securitisation (or, in the case of ABCP programmes and transactions, the sponsor) must be established in the WebGuidelines on the STS criteria for ABCP securitisation 31 1. WebSTS securitisation criteriachecklist Checklists. For ABCP programmes, the same borrower concentration limit applies at the programme level, at the time the underlying assets are added to the programme. The risk weight caps vary depending on the class of asset being securitized, and are subject to credit risk mitigation. WebThe Securitisation Regulation sets out an optional process whereby an authorized third party can attest to the satisfaction of the STS criteria. The consultation runs until 7 July 2023. The notification process is also likely to include a cross-referencing exercise to the prospectus (if there is one). Navigating the Tangled Forest - Clifford Chance The EBA Guidelines will play a crucial role in the new EU securitisation framework, by providing a single point of consistent interpretation of the STS criteria to originators, sponsors, investors and competent authorities throughout the Union. Maintained . All Rights Reserved. The European Banking Authority (EBA) published today its final Guidelines, which will provide a harmonised interpretation of the criteria for the securitisation to be eligible as simple, transparent and standardised (STS) on a cross-sectoral basis throughout the Union. The progress made by the EBA in its report of December 2015, identifying a possible set of STS criteria for synthetic securitisation and defining balance-sheet synthetic securitisation and arbitrage synthetic securitisation, should be acknowledged. The Securitisation Regulation includes a number of mandates for ESMA to draft technical standards on these provisions. In February 2023, the . Similarly, the UK STS criteria will be set out in rules to be made by the FCA. (Level 3 Regulation). STS Government A public hearing will take place at the EBA premises on 11 June 2018 from 14:00 to 16:00 UK time. STS Government is a recognized Small Business providing IT solutions focusing exclusively on US Federal Government, state and local The Guidelines have been developed according to Articles 19(2) and 23(3) of the Securitisation Regulation, which mandates the EBA, in close cooperation with ESMA and EIOPA, to adopt guidelines and recommendations on the harmonised interpretation and application of the criteria related to simplicity, transparency and standardisation for the non-ABCP securitisations, and transaction level and programme level criteria for the ABCP securitisations. The EBA is consulting on an approach that would specify a list of asset categories as well as list of risk factors to be considered when determining whether an asset pool is sufficiently homogeneous. To obtain an STS designation, a securitisation first needs to comply with the general rules of the Securitisation Regulationthat apply to all European securitisation s, such as the risk retention, transparency and due diligence requirements. EUR-Lex - 32021R0557 - EN - EUR-Lex Implications of the European Securitisation Maintained . STS criteria WebAs a third-party verifier authorised and supervised by BaFin, SVI uses a standardised procedure to verify whether securitisations meet the STS criteria laid down in Articles 19 For example, originators, sponsors and original lenders will be under a new positive obligation to retain a five percentnet economic interest in securitisation transactions. The Securitisation Regulationhas been criticized for the vague nature of its eligibility criteria relating to the homogeneity of underlying asset pools. Final Report - European Banking Authority The mandate entitles the EBA, in close cooperation with ESMA and EIOPA, to adopt guidelines and recommendations on the harmonised interpretation and application of the criteria related to simplicity, transparency, standardisation and additional specific criteria for on-balance-sheet securitisation. PRIMER: STS securitisations | IFLR The Policy Note indicates that the majority of the requirements are expected to be maintained in the FCA and PRA rules. The Guidelines have been developed according to Articles 19(2) and 23(3) of the Securitisation Regulation (Regulation (EU) 2017/2402), which mandates the EBA, in close cooperation with ESMA and EIOPA, to adopt guidelines and recommendations on the harmonised interpretation and application of the criteria related to simplicity, transparency and standardisation for the non-ABCP securitisations, and transaction level and programme level criteria for the ABCP securitisations. Web2. the underlying exposures meet, at the time of their WebThe criteria for STS securitisation and the harmonisation of the existing provisions in EU law on securitisation related to risk retention, disclosure and due diligence will underpin the correct and safe functioning of the internal market. With less than three weeks to go until the scheduled end of the post-Brexit EU-UK transition period, the Joint Committee of the European Supervisory Authorities (ESAs) published a supervisory statement on 7 December 2020 highlighting the impact of Brexit on the status of simple, transparent and standard (STS) securitisation Criteria for simple, transparent and standardised (STS) securitisation: targeted amendments in the STS criteria would be needed to facilitate the use of the STS label for ABCP programmes. Positions in an ABCP programme or ABCP transaction that qualify as positions in an STS securitisation shall be eligible for the treatment set out in Articles 260, 262 and 264 where the following requirements are met: About STS Government. STS securitisation Consultation Paper - European Banking Authority Weba starting point the criteria for traditional STS securitisation set out in the Securitisation Regulation. Criteria related to simplicity 26 5. Guidelines on interpretation of STS criteria STS Verification International GmbH, hereinafter referred to as SVI, is convinced that Third Party Verification is an important contribution to the consistent, uniform and correct implementation of the new Securitisation Regulation and the STS Criteria. interpretation and consistent application of the STS Criteria. During the development, EBA has been mindful in ensuring consistency with existing Guidelines for traditional securitisations (ABCP and non-ABCP), which has provided a single point of consistent interpretation of the STS criteria to the relevant stakeholders throughout the Union. 2.1. General 36 5. The draft Guidelines also propose targeted amendments to the Guidelines for non-ABCP securitisation and ABCP securitisation. Securitisation For example, positions in an ABCP programme or ABCP transaction will only be eligible for STS treatment if the underlying exposures meet, at the time of the inclusion in the ABCP programme (taking into account credit risk mitigation), an SEC-SA risk weight of 75 percentor less. STS securitisation Compliance and reporting obligations 23 2. WebSubstantial element of uncertainty Interpretation essential Red criteria: Not possible to interpret consistently Interpretation crucial Non-ABCP securitisation: traffic light Implementation 35 4. Brexit ESAs report on the implementation and functioning of the II. The STS labeling process requires originators, sponsors and the SPVs to notify their regulator and ESMA in accordance with a prescribed template, following which ESMA will publish the STS notification on a register on its website. The Guidelines have been developed according to Article 26e(2) of the Regulation (EU) 2017/2402 (Securitisation Regulation) as amended by Regulation (EU) 2021/557, as part of the Capital Markets Recovery Package. Research Questions EBA publishes final guidelines on the STS criteria in securitisation The CMRP amends the Securitisation Regulation in several aspects, including creating a specific framework for simple, transparent and standardised n-balance-sheet securitisation to(STS) o ensure that the Union securitisation framework provides for an additional tool to foster economic recovery in the aftermath of the COVID-19 crisis. Verification Manual Third party certification, however, will not absolve originators, sponsors and SPVs from liability for making STS assertions that turn out to be false. STS A securitisation which meets the relevant STS criteria (and in some cases, other criteria) can benefit from preferential regulatory treatment, including lower regulatory capital charges with respect to the related exposures for bank investors under the Capital Requirements Regulation and for insurance and reinsurance undertakings under Subject matter, scope and definitions 24 3. WebThe aim is also to make securitisation more appealing by consolidating the current patchwork of securitisation rules into one place. the package contains only residential WebHowever, for many of the criteria, market participants will require more detail than provided in the Securitization Regulation text to implement the new framework. Found in: Banking & Finance, EU Law, Financial Services. STS Legal Framework EUR-Lex - 32017R2402 - EN - EUR-Lex Regulator Guidelines Pave The Way For STS Securitizations General framework: Provisions applicable to all the securitisations that are mentioned in Chapter 2 of the Regulation. term ABS transactions), Articles 23 to 26 (for ABCP securitisations) and Articles 26a to 26e (for The STS framework, however, leaves room for interpretation. The Securitisation Regulation introduces rules for simple, transparent and standardised (STS) securitisations which cover all asset-backed transactions, without WebSTS Verification International GmbH (SVI) is a third party verifier authorised under Article 28 of the Securitisation Regulation since 7 March 2019 to verify securitisation transactions for compliance with the simple, transparent and standardised (STS) criteria. These Guidelines will ensure a harmonised interpretation of these STS criteria, in Consultation Paper - European Banking Authority Accordingly, the EBA deems appropriate that these draft RTS further specify the triggers under point (a), set out the triggers under points (b) and (c), and set out criteria to be fulfilled by the parties to the securitisation in order to set the level of the triggers under points (a) to (c). Securitisation WebFor those reasons, the STS criteria should not allow synthetic securitisation. updated Q&A of the JC of ESAs. WebThe EUs STS securitisation framework is based on a demanding set of requirements, not least in terms of information disclosure. EBA consults on draft RTS on homogeneity of underlying WebThat requirement should also be indirectly part of the criteria defining the STS on-balance-sheet securitisation and excluding arbitrage securitisation from the STS framework. Risk factors include type of obligor, type of credit facility and collateral, repayment mechanics and industrial sector. Securitisation - Finance Apublic hearingwill take place via conference call on 30 May 2023 from 14:30 to 15:30 (CEST). STS securitisation WebRationale. STS Webon STS criteria for on-balance-sheet securitisations. Please note that the deadline for the submission of comments is 7 July 2023. If a securitisation transaction obtains the STS label, it is not guaranteed to receive preferential capital treatment. STS securitisation The role of the STS verification bodies . STS securitisation criteriachecklist - LexisPSL - LexisNexis Third party certification, however, will not absolve originators, sponsors and issuers from liability for making STS assertions that turn out to be false. STS securitisation Programme-level criteria 53 4. WebThe Securitisation Regulation sets out an optional process whereby an authorized third party can attest to the satisfaction of the STS criteria. WebThe amended regulation is in effect as of 6 April 2021 and includes specific wording relating to the STS criteria adopted for on-balance-sheet securitisations and NPE securitisations. Guidelines on the STS criteria for ABCP securitisation 31 1. Third party certification, however, will not absolve originators, sponsors and issuers from liability for making STS assertions that turn out to be false. One of them revises the general rules for securitisation transactions and creates a framework for simple, transparent and standardised (STS) securitisations (Regulation (EU) 2017/2402, amending Directives 2009/65/EC, Securitisation External Ratings Based Approach (SEC-ERBA): this method of last resort is based on credit ratings assigned by external rating agencies (or inferred) to the securitisation tranches. Non-senior STS securitisation positions (further split into those with and without a credit rating from a nominated ECAI). While the legislation will apply to securitisation s completed after January 1, 2019, legacy securitisation s outstanding on that date may be eligible to use the STS designation, provided that the transaction and underlying assets comply with procedural and structural requirements at the time of notification to the European Securities and Markets Authority (ESMA), and provided that other requirements are met at the time of origination (such as risk retention and criteria for credit-granting). STS Securitisation These Guidelines will ensure a harmonised interpretation of these STS criteria, in alignment with theEBA Guidelines for traditional securitisations. In addition, the attestation provided by the third party is a point in time assessment; therefore, they will not provide ongoing monitoring. A retention of five percent related to the risk retention by the originators should be retained in a securitisation structure. 40 percenton an exposure value-weighted average basis for loans backed by residential mortgages or fully guaranteed residential loans, 50 percenton an individual exposure basis where the exposure is a loan secured by a commercial mortgage, 75 percenton an individual exposure basis where the exposure is a retail exposure. Securitisation However, this guide is not meant to replace sound legal advice, as the eligibility criteria need to be applied and processes carried out individually to each transaction. Each criterion is explicitly addressed in a specific provision of the Securitisation Regulation (from Articles 20 to Article 22). WebThe criteria for both types of securitisation focus more on the structure of the transaction, than on the quality of the underlying assets, and many of the criteria Legal Update - Mayer Brown Securitisation - ESMA Found in: Banking & Finance, EU Law, Financial Services. This alignment of criteria is intended to ensure the highest level of consistency between the two STS regimes. The most significant changes are: a new hierarchy of risk calculation methods and lower capital requirements for STS. Eligibility criteria are essential safeguards in synthetic securitisation transactions as they determine the validity of the credit protection purchased by the protection buyer. Amending securitisation Final and translated into the EU official languages. Web when they choose to claim the STS label, originators and sponsors must send ESMA a notification when a non-ABCP securitisation transaction complies with the STS criteria. Articles 6 to 10 of the proposed Regulation set out the criteria for STS securitisation. Authors STS: a new age for European securitisations With the STS criteria, the Commission proposal This Checklist sets out (1) the criteria for traditional simple, transparent and standardised (STS) securitisations in the EU under Regulation (EU) 2017/2402 (the EU Securitisation Regulation) and Commission Delegated Regulation ESMA should also play an active role in addressing potential interpretation issues. Guidelines On The Sts Criteria For Abcp And Non Abcp Securitisation, European Forum for Innovation Facilitators, Discussion Paper on management and supervision of ESG risks for credit institutions and investment firms, EBA regulation and institutional framework, Conflicts of interest of members of the governing bodies and other committees, Occupational activities after leaving the EBA, Current procurement procedures with a value of 140,000 or more, Current procurement procedures between 15,000 and 140,000, Archived Information on ex-post publicity, EBA at a glance: key achievements in 2020 and future priorities, Implementing FSB Key Attributes on resolution matters, Guidelines on Accounting for Expected Credit, Guidelines on communication between competent authorities and auditors, Regulatory Technical Standards on methods of prudential consolidation, Asset-referenced and e-money tokens (MiCAR), Anti-Money Laundering and Countering the Financing of Terrorism, Call for input on de-risking and its impact on access to financial services, Guidelines on ML/TF risk factors (revised), Guidelines on cooperation and information exchange between prudential supervisors, AML/CFT supervisors and financial intelligence units, Guidelines on policies and controls for the effective management of ML/TF risks when providing access to financial services, Guidelines on risk factors and simplified and enhanced customer due diligence, Guidelines on risk-based supervision (First revision), Guidelines on risk-based supervision (Second revision), Guidelines on the role of AML/CFT compliance officers, Guidelines on the use of remote customer onboarding solutions, JC Guidelines on cooperation and information exchange for AML/CFT supervision purposes, Joint Guidelines to prevent transfers of funds can be abused for ML and TF, Regulatory Technical Standards on CCP to strengthen fight against financial crime, Regulatory Technical Standards on a central database on AML/CFT in the EU, Regulatory Technical Standards on the implementation of group wide AML/CFT policies in third countries, Guidelines for cooperation between consolidating supervisors and host supervisors, Guidelines for the joint assessment and joint decision regarding the capital adequacy of cross-border groups, Guidelines for the operational functioning of colleges, Implementing Technical Standards on joint decisions on institution-specific prudential requirements, Implementing technical standards on joint decisions on prudential requirements, Recommendation amending EBA/Rec/2015/01 on the equivalence of confidentiality regimes, Regulatory and implementing technical standards on the functioning of colleges of supervisors, Regulatory technical standards on colleges of supervisors for investment firms groups, Technical Standards on the functioning of supervisory colleges under CRD, Consumer protection and financial innovation, Decision on specifying the benchmark rate under the Mortgage Credit Directive, Discussion Paper on automation in financial advice, Discussion Paper on innovative uses of consumer data by financial institutions, Discussion paper on draft requirements on passport notifications for credit intermediaries, Extension of the application of the Joint Committee Guidelines on complaints-handling to the new institutions under PSD2 and MCD, Guidelines for complaints-handling for the securities (ESMA) and banking (EBA) sectors, Guidelines on creditworthiness assessment, Guidelines on product oversight and governance arrangements for retail banking products, Guidelines on remuneration policies for sales staff, Guidelines on standardised fee terminology for payment accounts in the EU, Guidelines on the security of internet payments, Regulatory Technical Standards on Individual Portfolio Management of loans offered by crowdfunding service providers, Regulatory Technical Standards on Professional Indemnity Insurance (PII) for mortgage credit intermediaries, Regulatory Technical Standards on complaints handling procedures for issuers of ARTs, Regulatory Technical Standards on credit scoring and loan pricing disclosure, credit risk assessment and risk management requirements for Crowdfunding Service Providers, Regulatory Technical Standards on the content and presentation of the KIDs for PRIIPs, Technical Advice on possible delegated acts on criteria and factors for intervention powers concerning structured deposits, Technical Standards on standardised terminology and disclosure documents under the PAD, Discussion Paper and Call for Evidence on SMEs and the SME Supporting Factor, Discussion Paper on the future of the IRB Approach, Discussion paper on the role of environmental risks in the prudential framework, Guidelines on legislative and non-legislative moratoria on loan repayments applied in the light of the COVID-19 crisis, Guidelines on loan origination and monitoring, Guidelines on management of non-performing and forborne exposures, Guidelines on specification of types of exposures to be associated with high risk, Guidelines on the application of the definition of default, Guidelines on the implementation, validation and assessment of Advanced Measurement (AMA) and Internal Ratings Based (IRB) Approaches, Implementing Technical Standards on NPL transaction data templates, Mechanistic references to credit ratings in the ESAs guidelines and recommendations, Regulatory Technical Standards concerning the assessment of appropriateness of risk weights and minimum LGD values, Regulatory Technical Standards in relation to credit valuation adjustment risk, Regulatory Technical Standards on assessment methodology for IRB approach, Regulatory Technical Standards on conditions for capital requirements for mortgage exposures, Regulatory Technical Standards on materiality threshold of credit obligation past due, Regulatory Technical Standards on the calculation of credit risk adjustments, Regulatory Technical Standards on the calculation of risk-weighted exposure amounts of collective investment undertakings (CIUs), Regulatory Technical Standards on the method for the identification of the geographical location of the relevant credit exposures under Article 140(7) of the Capital Requirements Directive (CRD), Regulatory Technical Standards on the treatment of equity exposures under the IRB Approach, Regulatory technical standards on disclosure of information related to the countercyclical capital buffer, Regulatory technical standards on specialised lending exposures, Regulatory technical standards on the permanent and temporary use of IRB approach, External Credit Assessment Institutions (ECAI), Decision on the Use of Unsolicited Credit Assessments, Guidelines on the recognition of External Credit Assessment Institutions (repealed), Implementing Technical Standards on the mapping of ECAIs Credit Assessments for securitisation positions, Implementing Technical Standards on the mapping of ECAIs credit assessments under the SA, Consultation on the Joint Committee response to the Call for Advice on the Fundamental Review of the Financial Conglomerates Directive (FICOD) received from the European Commission in April 2011, Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates, Implementing Technical Standards on the reporting of intra-group transactions and risk concentration for financial conglomerates, Regulatory Technical Standards on risk concentration and intra-group transactions within financial conglomerates, Regulatory Technical Standards on the uniform conditions of application of the calculation methods for determining the amount of capital required at the level of the financial conglomerate, Guidelines on ICT and security risk management, Guidelines on Internal Governance (repealed), Guidelines on internal governance (revised), Guidelines on internal governance (second revision), Guidelines on internal governance for investment firms, Guidelines on the assessment of adequate knowledge and experience of the management or administrative organ of credit servicers, Guidelines on the assessment of the suitability of members of the management body and key function holders (repealed), Guidelines on the benchmarking of diversity practices including diversity policies and gender pay gap, Joint Committee Guidelines on on the system for the exchange of information relevant to fit and proper assessments, Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body (revised), Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body, Recommendations on outsourcing to cloud service providers (repealed), Guidelines on liquidity requirements exemption for investment firms, Implementing Technical Standards on the format, structure, contents list and annual publication date of the supervisory information to be disclosed by competent authorities under Article 57(4) of IFD, New prudential regime for investment firms, Regulatory Technical Standards on prudential requirements for investment firms, Regulatory Technical Standards on the specific liquidity measurement for investment firms, Guidelines on common reporting of large exposures, Guidelines on conditions for the application of the alternative treatment of institutions exposures related to tri-party repurchase agreements, Guidelines on large exposures breaches and time and measures to return to compliance, Guidelines on limits on exposures to shadow banking, Guidelines on the revised large exposures regime, Implementation Guidelines on large exposures exemptions for money transmission, correspondent banking, clearing and settlement and custody services, Regulatory Technical Standards on criteria for the identification of shadow banking entities, Regulatory Technical Standards on the determination of the overall exposure to a client or a group of connected clients in respect of transactions with underlying assets, Regulatory Technical Standards on the identification of a group of connected clients, Regulatory Technical standards on the determination of indirect exposures to underlying clients of derivative and credit derivative contracts, Implementing Technical Standards on disclosure for leverage ratio, Defining Liquid Assets in the Liquidity Coverage ratio, Guidelines on Retail Deposits subject to higher outflows for the purposes of liquidity reporting, Guidelines on harmonised definitions and templates for funding plans of credit institutions, Guidelines on liquidity cost benefit allocation, Implementing Technical Standards amending ITS on additional liquidity monitoring metrics, Implementing Technical Standards on additional liquidity monitoring metrics, Implementing Technical Standards on currencies with an extremely narrow definition of central bank eligibility, Implementing Technical Standards on currencies with constraints on the availability of liquid assets (amended), Regulatory Technical Standards on additional liquidity outflows, Regulatory Technical Standards on criteria for a preferential treatment in cross-border intragroup financial support under LCR, Technical Standards on currencies with constraints on the availability of liquid assets, Regulatory Technical Standards on the margin periods for risk used for the treatment of clearing members' exposures to clients, Implementing Technical Standards On the Hypothetical Capital of a Central Counterparty (CCPs), Regulatory Technical Standards on IMMV under EMIR, Regulatory Technical Standards amending the bilateral margin requirements with regards to intragroup contracts, Regulatory Technical Standards on capital requirements for Central Counterparties (CCPs), Regulatory Technical Standards on prudential requirements for central securities depositories (CSDs), Regulatory Technical Standards on risk mitigation techniques for OTC derivatives not cleared by a central counterparty (CCP), Discussion Paper on EU implementation of MKR and CCR revised standards, Discussion paper on the treatment of structural FX under Article 352(2) of the CRR, Guidelines on Stressed Value-At-Risk (Stressed VaR), Guidelines on corrections to modified duration for debt instruments, Guidelines on criteria for the use of data inputs in the expected shortfall risk measure under the IMA, Guidelines on the Incremental Default and Migration Risk Charge (IRC), Guidelines on the treatment of CVA risk under SREP, Guidelines on the treatment of structural FX under 352(2) of the CRR, Implementing Technical Standards on appropriately diversified indices, Implementing Technical Standards on closely correlated currencies, Regulatory Technical Standards on gross jump-to-default amounts, Regulatory Technical Standards amending RTS on CVA proxy spread, Regulatory Technical Standards on Internal Model Approach for Assessment Methodology, Regulatory Technical Standards on default probabilities and losses given default for default risk model under the Fundamental Review of the Trading Book, Regulatory Technical Standards on emerging markets and advanced economies, Regulatory Technical Standards on exclusion from CVA of non-EU non-financial counterparties, Regulatory Technical Standards on non-delta risk of options in the standardised market risk approach, Regulatory Technical Standards on prudent valuation, Regulatory Technical Standards on residual risk add-on, Regulatory Technical Standards on the assessment methodology to verify an institutions compliance with the internal model approach, Regulatory Technical Standards on the capitalisation of non-modellable risk factors under the FRTB, Regulatory Technical Standards on the conditions for assessing the materiality of extensions and changes of internal approaches for credit, market and operational risk, Regulatory Technical Standards on the definition of market, Regulatory Technical Standards on the definition of materiality thresholds for specific risk in the trading book, Regulatory Technical Standards on the standardised approach for counterparty credit risk, Regulatory Technical Standards on the treatment of non-trading book positions subject to foreign-exchange risk or commodity risk, Technical Standards on the IMA under the FRTB, Discussion paper on machine learning for IRB models, Guidelines on Credit Risk Mitigation for institutions applying the IRB approach with own estimates of LGDs, Guidelines on PD estimation, LGD estimation and treatment of defaulted assets, Regulatory Technical Standards and Guidelines on estimation and identification of an economic downturn in IRB modelling, Regulatory Technical Standards on the conditions according to which competent authorities may grant permission for data waiver, Supervisory handbook for the validation of internal ratings based systems, Guidelines on operational risk mitigation techniques, Guidelines on the management of operational risk in market-related activities, Regulatory Technical Standards on assessment methodologies for the use of AMAs for operational risk, Discussion Paper on the impact on the volatility of own funds of the revised IAS 19 and the deduction of defined pension assets from own funds, Guidelines for Hybrid Capital Instruments, Guidelines on criteria to to assess other systemically important institutions (O-SIIs), Guidelines on instruments referred to in Article 57(a) of the CRD, Guidelines on prudential filters for regulatory capital, Guidelines on the specification and disclosure of systemic importance indicators, Implementing Technical Standards on Disclosure for Own Funds, Regulatory Technical Standards amending RTS on own funds and eligible liabilities, Regulatory Technical Standards on Own Funds, Regulatory Technical Standards on own funds requirements for investment firms, Regulatory Technical Standards on the prudential treatment of software assets, Technical Standards for the identification of global systemically important institutions (G-SIIs), Technical Advice to the Commission on possible treatments of unrealised gains measured at fair value, Amended Regulatory Technical Standards and Implementing Technical Standards on passport notification, Guidelines for Passport Notifications for credit institutions, Guidelines on passport notifications for credit intermediaries, Guidelines on supervision of significant branches, Regulatory Technical Standards on passporting under PSD2, Technical Standards on Passport Notifications for credit institutions, Technical Standards on information exchange between home and host competent authorities, Technical standards on information exchange between home and host competent authorities of investment firms, Discussion Paper on the payment fraud data received under PSD2, Guidelines on the limited network exclusion under PSD2, Guidelines on authorisation and registration under PSD2, Guidelines on major incidents reporting under PSD2, Guidelines on procedures for complaints of alleged infringements of the PSD2, Guidelines on security measures for operational and security risks under the PSD2, Guidelines on the conditions to be met to benefit from an exemption from contingency measures under Article 33(6) of Regulation (EU) 2018/389 (RTS on SCA & CSC), Guidelines on the criteria on how to stipulate the minimum monetary amount of the professional indemnity insurance under PSD2, Regulatory Technical Standards on Home-Host cooperation under PSD2, Regulatory Technical Standards on central contact points under PSD2, Regulatory Technical Standards on payment card schemes and processing entities under the IFR, Regulatory Technical Standards on strong customer authentication and secure communication under PSD2, Technical Standards on the EBA Register under PSD2, Notifications on resolution cases and use of DGS funds, Cooperative Bank of Peloponnese Coop Ltd resolution case, Guidelines for institutions and resolution authorities on improving resolvability, Guidelines on Business Reorganisation Plans, Guidelines on cooperation agreements between deposit guarantee schemes, Guidelines on early intervention triggers, Guidelines on how information should be provided under the BRRD, Guidelines on measures to reduce or remove impediments to resolvability, Guidelines on methods for calculating contributions to Deposit Guarantee Schemes (DGSs) (revised), Guidelines on methods for calculating contributions to Deposit Guarantee Schemes (DGSs), Guidelines on stress tests of deposit guarantee schemes (first revision), Guidelines on stress tests of deposit guarantee schemes, Guidelines on the delineation and reporting of available financial means of Deposit Guarantee Schemes, Guidelines on the overall recovery capacity in recovery planning, Guidelines on the range of scenarios to be used in recovery plans, Guidelines on the rate of conversion of debt to equity in bail-in, Guidelines on the treatment of shareholders in bail-in, Guidelines on the types of tests, reviews or exercises that may lead to support measures, Guidelines on treatment of liabilities in bail-in, Guidelines specifying the various conditions for the provision of group financial support, Guidelines to resolution authorities on the publication of their approach to implementing the bail-in tool, Implementing Technical Standards on MREL reporting by Resolution Authorities, Implementing Technical Standards on disclosure and reporting of MREL and TLAC, Implementing Technical Standards on procedures, forms and templates for resolution planning, Implementing Technical Standards on reporting of MREL decisions, Implementing Technical Standards on simplified obligations, Implementing Technical Standards on the disclosure of group financial support agreements, Recommendation on the development of recovery plans, Recommendations on the coverage of entities in a group recovery plan, Regulatory Technical Standards defining methodologies for the valuation of derivative liabilities, Regulatory Technical Standards on Business Reorganisation Plans, Regulatory Technical Standards on Simplified Obligations, Regulatory Technical Standards on conditions for the provision of group financial support, Regulatory Technical Standards on contractual recognition of bail-in, Regulatory Technical Standards on detailed records of financial contracts, Regulatory Technical Standards on independent valuers, Regulatory Technical Standards on indirect subscription of MREL instruments within groups, Regulatory Technical Standards on methodology to estimate P2 and CBR for setting MREL requirements, Regulatory Technical Standards on minimum requirement for own funds and eligible liabilities (MREL), Regulatory Technical Standards on notifications and notice of suspension, Regulatory Technical Standards on resolution colleges, Regulatory Technical Standards on resolution planning, Regulatory Technical Standards on the assessment of recovery plans, Regulatory Technical Standards on the content of recovery plans, Regulatory Technical Standards on the contractual recognition of stay powers under BRRD, Regulatory Technical Standards on valuation, Report on the application of early intervention measures under the BRRD, Report on the appropriate target level basis for resolution financing arrangements under BRRD, Report on the implementation of the Guidelines on methods for calculating contributions to DGSs, Technical Standards on impracticability of contractual recognition of bail-in, ITS package for 2017 benchmarking exercise, ITS package for 2018 benchmarking exercise, ITS package for 2019 benchmarking exercise, ITS package for 2020 benchmarking exercise, ITS package for 2021 benchmarking exercise, ITS package for 2022 benchmarking exercise, ITS package for 2023 benchmarking exercise, ITS package for 2024 benchmarking exercise, Regulatory Technical Standards and Implementing Technical Standards 2016 on benchmarking portfolio assessment standards and assessment sharing procedures, Guidelines on Remuneration Policies and Practices, Guidelines on remuneration policies for investment firms, Guidelines on sound remuneration policies (second revision), Guidelines on sound remuneration policies, Guidelines on the applicable notional discount rate for variable remuneration, Guidelines on the data collection exercise regarding high earners, Guidelines on the high earner data collection exercises under CRD and IFD (updated), Guidelines on the remuneration and gender pay gap benchmarking exercises under IFD, Guidelines on the remuneration benchmarking exercise, Guidelines on the remuneration, gender pay gap and approved higher ratio benchmarking exercises under CRD, Regulatory Technical Standards for the definition of material risk takers for remuneration purposes, Regulatory Technical Standards on classes of instruments that are appropriate to be used for the purposes of variable remuneration, Regulatory Technical Standards on pay out in instruments for variable remuneration under the Investment Firms Directive (IFD), Regulatory Technical Standards on the criteria to identify material risk takers under the Investment Firms Directive (IFD), Revised Regulatory Technical Standards on identified staff for remuneration purposes, CEBS Guidelines on the application of article 122a of the CRD, Discussion Paper On the Significant Risk Transfer in Securitisation, Discussion Paper on simple standard and transparent securitisations, Guidelines on implicit support for securitisation transactions, Guidelines on significant risk transfer (SRT) for securitisation transactions, Guidelines on the STS criteria for ABCP and non-ABCP securitisation, Guidelines on the STS criteria for on-balance-sheet securitisations, Joint Regulatory Technical Standards on STS securitisations-related sustainability disclosures, Regulatory Technical Standards on close correspondence between the value of an institutions covered bonds and the value of the institutions assets relating to the institutions own credit risk, Regulatory Technical Standards on performance-related triggers in STS on-balance -sheet securitisations, Regulatory Technical Standards on requirements for originators, sponsors, original lenders and servicers relating to risk retention, Regulatory Technical Standards on risk retention, Regulatory Technical Standards on securitisation retention rules and Draft Implementing Technical Standards to clarify the measures to be taken in the case of non-compliance with such obligations, Regulatory Technical Standards on the calculation of Kirb in accordance with the purchased receivables approach, Regulatory Technical Standards on the determination by originator institutions of the exposure value of synthetic excess spread in securitisations, Regulatory Technical Standards on the homogeneity of the underlying exposures in STS securitisation, Regulatory Technical Standards on the homogeneity of the underlying exposures in securitisation, Cost of compliance with supervisory reporting, Integrated and consistent reporting system, Guidelines for the implementation of the framework for consolidated financial reporting (FINREP) (2005), Guidelines for the implementation of the framework for consolidated financial reporting (FINREP) Recast (2006), Guidelines for the implementation of the framework for consolidated financial reporting (FINREP) Revision 1 (2007), Guidelines for the implementation of the framework for consolidated financial reporting (FINREP) Revision 2 (2009), Guidelines on Common Reporting Recast (2006), Guidelines on Common Reporting Revision 1 (2010), Guidelines on Common Reporting Revision 2 (2011), Guidelines on Covid -19 measures reporting and disclosure, Guidelines on harmonised definitions and templates for funding plans of credit institutions (updated), Guidelines on resubmission of historical data, Guidelines on supervisory reporting and disclosure requirements in compliance with CRR quick fix in response to the COVID19 pandemic, Implementing Technical Standard on Supervisory Reporting (Asset Encumbrance), Implementing Technical Standard on Supervisory Reporting (Forbearance and non-performing exposures), Implementing Technical Standards Amending Commission Implementing Regulation (EU) No 680/2014 on Supervisory Reporting of institutions - March 2015, Implementing Technical Standards Amending Commission Implementing Regulation (EU) No 680/2014 on Supervisory Reporting of institutions - March 2016, Implementing Technical Standards Amending Commission Implementing Regulation (EU) No 680/2014 on Supervisory Reporting of institutions, Implementing Technical Standards Amending Regulation (EU) No 680/2014 on Supervisory Reporting of institutions with regard to prudent valuation, Implementing Technical Standards amending Commission Implementing Regulation (EU) No 680/2014 (ITS on supervisory reporting) with regard to the Leverage Ratio (LR), Implementing Technical Standards amending Commission Implementing Regulation (EU) No 680/2014 with regard to the Liquidity Coverage Ratio, Implementing Technical Standards amending Implementing Regulation (EU) No 680/2014 with regard to operational risk and sovereign exposures, Implementing Technical Standards on Supervisory Reporting, Implementing Technical Standards on Supervisory Reporting amendments with regard to IRRBB reporting, Implementing Technical Standards on Supervisory Reporting amendments with regards to ALMM, Implementing Technical Standards on Supervisory Reporting amendments with regards to COREP LCR, Implementing Technical Standards on Supervisory Reporting amendments with regards to COREP securitisation, Implementing Technical Standards on Supervisory Reporting amendments with regards to FINREP, Implementing Technical Standards on amendments to FINREP due to IFRS 9, Implementing Technical Standards on reporting and disclosures requirements for investment firms, Implementing Technical Standards on reporting for v3.0 (revised), Implementing Technical Standards on specific reporting requirements for market risk, Implementing Technical Standards on supervisory reporting amendments with regards to COREP, asset encumbrance and G-SIIs, Implementing Technical Standards on supervisory reporting changes related to CRR2 and Backstop Regulation, Recommendation on the use of Legal Entity Identifier (LEI), Supervisory Review and Evaluation Process (SREP) and Pillar 2, Guidelines for common procedures and methodologies for the supervisory review and evaluation process (SREP) and supervisory stress testing, Guidelines on ICAAP and ILAAP information, Guidelines on ICT Risk Assessment under the SREP, Guidelines on Technical aspects of the management of interest rate risk arising from non-trading activities under the supervisory review process, Guidelines on capital measures for foreign currency lending, Guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP), Guidelines on the Application of the Supervisory Review Process under Pillar 2, Guidelines on the management of concentration risk under the supervisory review process, Guidelines on the pragmatic 2020 supervisory review and evaluation process in light of the COVID-19 crisis, Regulatory Technical Standards on IRRBB standardised approach, Regulatory Technical Standards on IRRBB supervisory outlier tests, Regulatory Technical Standards on Pillar 2 add-ons for investment firms, Third country equivalence and international cooperation, Fourth update to recommendation on equivalence of non-EU authorities for participation in supervisory colleges, Third update to recommendation on equivalence of non-EU authorities for participation in supervisory colleges, Second update to recommendation on equivalence of non-EU authorities for participation in supervisory colleges, First update to recommendation on equivalence of non-EU authorities for participation in supervisory colleges, Guidelines on equivalence of non-EU authorities for participation in supervisory colleges, Guidelines on the equivalence of confidentiality regimes, Recommendation on the equivalence of confidentiality regimes, Guidelines amending disclosure guidelines, Guidelines on disclosure of encumbered and unencumbered assets, Guidelines on disclosure of non-performing and forborne exposures, Guidelines on disclosure requirements on IFRS 9 transitional arrangements, Guidelines on disclosure requirements under Part Eight of Regulation (EU), Guidelines on materiality, proprietary and confidentiality and on disclosure frequency, Implementing Technical Standards (ITS) on prudential disclosures on ESG risks in accordance with Article 449a CRR, Implementing Technical Standards on disclosure of indicators of global systemic importance by G-SIIs, Implementing Technical Standards on disclosure of information on exposures to interest rate risk on positions not held in the trading book, Implementing Technical Standards on institutions public disclosures of the information referred to in Titles II and III of Part Eight of Regulation (EU) No 575/2013, Joint Regulatory Technical Standards on ESG disclosure standards for financial market participants, Joint Regulatory Technical Standards on content and presentation of sustainability disclosures, Regulatory Technical Standards on disclosure of investment policy by investment firms, Regulatory Technical Standards on the disclosure of encumbered and unencumbered assets, Amendment to Implementing Technical Standards on Supervisory Disclosure, Approach to financial technology (Fintech), Discussion paper on proportionality assessment methodology, Discussion paper on two delegated acts specifying further criteria for critical ICT third-party service providers (CTPPs) and determining oversight fees levied on such providers, Guidelines on Impact Assessment for EU Lamfalussy Level 3 Committees, Guidelines on supervisory disclosure (revised), Guidelines on the appropriate subsets of exposures in the application of the systemic risk buffer, Guidelines on the authorisation of credit institutions, Guidelines on the monitoring of the threshold for establishing an intermediate EU parent undertaking, Guidelines regarding revised Article 3 of Directive 2006/48/EC, Implementing Technical Standards on the format, structure, contents list and annual publication date of the supervisory information to be disclosed by competent authorities under Article 143(3) of CRD, Implementing Technical Standards on the procedures and forms in respect of acquisitions and increases of qualifying holdings, Joint Guidelines for the assessment of mergers and acquisitions, Joint Guidelines for the prudential assessment of acquisitions of qualifying holdings, Principles for Benchmarks-Setting Processes in the EU, Recommendation to the Bulgarian National Bank and the Bulgarian Deposit Insurance Fund, Recommendations on supervisory oversight of activities related to banks participation in the Euribor panel, Regulatory Technical Standards on information for assessment of a proposed acquisition of qualifying holdings in issuers of ARTs under MiCAR, Technical Standards on information for authorisation as issuers of ARTs under MiCAR, Technical Standards on the authorisation of credit institutions, Discussion Paper on the future changes to the EU-wide stress test, One-off Fit-for-55 climate risk scenario analysis, Quantitative impact study/Basel III monitoring, Finalised Basel III standards (Dec 2017) Call for Advice, Review on the consistency of Risk Weighted Assets, Threshold monitoring of intermediate parent undertakings, National registers of admitted credit intermediaries under the MCD, Register of payment and electronic money institutions under PSD2, Global Systemically Important Institutions (G-SIIs), Other Systemically Important Institutions (O-SIIs), Opinions related to macroprudential policy, National competent authorities for consumer protection, EBA informs customers of UK financial institutions about the end of the Brexit transition period, Final Guidelines on STS criteria for ABCP securitisation, Final Guidelines on STS criteria for non-ABCP securitisation, Compliance table (STS criteria for ABCP securitisation), Compliance table (STS criteria for non-ABCP securitisation), EBA consults on the draft Guidelines on the STS criteria for on-balance-sheet securitisations, EBA Guidelines for traditional securitisations, EBA consults on its guidelines interpreting the STS criteria in securitisation, EBA publishes final guidelines on the STS criteria in securitisation, Draft Guidelines on the STS criteria for non-ABCP securitisation, Consultation Paper on Guidelines on STS criteria for non-ABCP securitisation, Association for Financial Markets in Europe (AFME), Global Legal Entity Identifier Foundation (GLEIF), Prime Collateralised Securities (PCS) UK Ltd, Verband der Automobilindustrie e.V.

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