Special Reporting Guidelines:

Written Confirmation document required by Securitisation Repositories

The new disclosure regime introduced by the Securitisation Regulation (EU) 2017/2402 requires reporting entities for public securitisations to submit a series of data templates and documents to a Securitisation Repository.

While there are technical standards to verify the consistency and completeness of the XML Templates provided to a Securitisation Repository, this is not the case with the documentation (e.g. Prospectus) submitted by the reporting entity pursuant to Article 7 (1) b of the Securitisation Regulation. Therefore, reporting entities are obliged to provide a written confirmation that all relevant documentation has been provided and is consistent with the features of the securitisation as outlined in the Regulatory Technical Standards (RTS).

 

The obligation for such a written confirmation is set out in Article 4 of the Commission Delegated Regulation (EU) 2020/1229.

This written confirmation document needs to be signed by an authorised representative of the reporting entity, however the document can be uploaded to European DataWarehouse (EDW) either by the data owner, data provider, or the reporting entity of each securitisation.

To support our customers with a successful transition to the new disclosure regime EDW has developed a template for such a written confirmation that can be used by reporting entities to fulfil their reporting obligations.

The EDW template can be downloaded here.

What are the most important criteria & deadlines for submitting the written confirmation to a Securitisation Repository?

This infographic summarises the Top 5 points to keep in mind when it comes to the submission of a written confirmation to a Securitisation Repository. You can download the infographic PDF here.

  1. There is no prescribed manner for this written confirmation, however, EDW has created a standard sample template that can be downloaded in a convenient Microsoft Word document. The EDW template will also be available in the EDITOR platform.
  2. The Reporting Entity should submit the written confirmation within 14 calendar days of receiving the request from the Securitisation Repository.
  3. The written confirmation shall be requested by the Securitisation Repository every 12 months from the date of first request, as well as after any material update to existing documentation.
  4. Should the written confirmation not be received within 14 days following the request, a follow-up reminder shall be sent by the Securitisation Repository giving Reporting Entities a further 14 calendar days to respond accordingly.
  5. By 19:00 UTC every day, the Securitisation Repository shall produce an End-Of-Day Report on all information received, including the availability of the written confirmation document. This report is available to all investors, ESMA, the Eurosystem, and other users under Article 17(1) of the Securitisation Regulation.

Should you require further information about submitting the written confirmation to European DataWarehouse, or for any other questions surrounding the new disclosure regime, please call +49 (0) 69 50986 9017 or email us via enquiries@eurodw.eu.