On 15 February 2024, Commission Delegated Regulation (EU) 2024/584 of 7 November 2023 (the “New Delegated Regulation”) amending the regulatory technical standards laid down in Delegated Regulation (EU) 2019/1851 (the “2019 Delegated Regulation”) as regards the homogeneity of the underlying exposures in simple, transparent and standardised (STS) securitisations, has been published in the Official Journal of the EU.
The 2019 Delegated Regulation lay down uniform criteria to determine the homogeneity of underlying exposures in STS securitisations.
The New Delegated Regulation amends the 2019 Delegated Regulation on the homogeneity of the underlying exposures in asset-backed commercial paper (ABCP) and non-ABCP securitisation to extend the scope to on-balance-sheet securitisations. To ensure clarity and accessibility to the applicable rules, the New Delegated Regulation combines the regulatory technical standards on homogeneity for non-ABCP, ABCP and on-balance-sheet STS securitisations in a single regulation.
Subject to transitional arrangements for outstanding STS securitisations, the New Delegated Regulation applies to securitisation transactions that are notified to ESMA as from 6 March 2024.
Share on
