The European Securities and Markets Authority (ESMA) has approved the registration of two securitisation repositories (SRs) under the EU Securitisation Regulation.
The European DataWarehouse, located in Germany, and Netherlands-based SecRep become the first two SRs to be licensed under this regulation.
These registration decisions will become effective on 30 June 2021, when SRs are required to start reporting under the regulation.
ESMA regulates securitisation activities by laying down reporting requirements and maintaining a list of simple, transparent and standardised (STS) securitisations. It is also responsible for supervising SRs and for co-ordinating supervision across regulatory authorities.
The Securitisation Regulation creates a framework for securitisation and a specific framework for STS securitisations. ESMA describes it as a cornerstone of the EU’s efforts to create a capital markets union by creating a single market for investment services and ensuring a high level of harmonised protection for financial investors.
“The registration of the first securitisation repositories marks the final step in the implementation of the securitisation transparency regime,” says ESMA interim chair Anneli Tuominen.
“The securitisation repositories will now start receiving, verifying and distributing standardised data and information to investors as well as to EU and national authorities,” she says. “This data will improve the ability of investors to assess and compare the credit quality of securitisations and contribute to making securitisation safer and more attractive to investors.”
