Frankfurt, Germany— 1 July 2021

European DataWarehouse (EDW) is pleased to announce that Unión de Créditos Inmobiliarios´s (UCI’s) Green Belem RMBS is the Securitisation Repository’s first green Securitisation ready to pass the newly introduced validation checks in compliance with the new disclosure regime introduced by the Securitisation Regulation (EU)2017/2402.

The transaction, which has a value of €385 million, is Portugal’s first green bond and was awarded the Sustainable Finance award at the 2021 Euronext Lisbon Awards.

EDW worked closely in recent months with issuers across Europe, such as UCI, to identify and address potential file structure and content errors in the new reporting templates which came into effect on 30 June 2021.

Submissions failing even one of the validation checks will be rejected under the new European Securities and Markets Authority (ESMA) disclosure framework, which requires reporting entities to report to a designated Securitisation Repository.

“With only five days between the registration of the first Securitisation Repository and the official change in disclosure requirements, we are very grateful to have received EDW’s support in preparing for the transition,” says Philippe Laporte, COO at UCI.

“We have been reporting to EDW since 2015, cooperating and collaborating with the company throughout its evolution. This is very positive for our investors as it allows them to compare homogeneous information and trades at risk and price.”

He also adds, “Belem is prepared to comply with the ESMA requirements and is in line with the digitization path promoted by the European Commission, as well as with the quality of information in the financial sector and more specifically in the ABS market.”

EDW’s recent analysis of data submissions established that the most common challenges were related to the newly introduced use of identifiers in the reporting templates, as well as simple data inconsistencies.

Dr Christian Thun, CEO of EDW states: “We’re really pleased to have received so much positive feedback on the analysis and support efforts from our data analysts. The collaboration with clients like UCI highlights our role as much more than simply a Securitisation Repository, but rather as a trusted partner throughout the life of their securitisation.”

 

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Email: carla.scarsella@eurodw.eu