In a report on the functioning of the securitisation regulation, published on Tuesday 11 October, the European Commission concludes that the securitisation framework is working well, even though dynamic market growth has not yet materialised.
The Commission sees this as an indication that the Securitisation Regulation (2017/20402) has contributed to the achievement of its main objective, namely the establishment of a European securitisation market that contributes to the financing of the economy without creating risks for financial stability.
However, a number of targeted improvements to the operation of the framework are identified in the report, notably in relation to the proportionality of certain prudential requirements. The report also provides guidance on certain aspects of the Securitisation Regulation, such as the jurisdictional scope.
In addition, the European Supervisory Authorities (ESAs) are invited to review the technical standards relating to transparency obligations. Finally, the report also includes an overview of current and upcoming work on the prudential treatment of securitisation.
The report published today is based on the results of a broad consultation of stakeholders and draws on input from the European Supervisory Authority.
To consult the report: https://aeur.eu/f/3lf (Original version in French by Anne Damiani)