Italian Securitisation Resources

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On January 1st 2019 the new EU Securitisation Regulation (EU Reg. 2402/17) began to apply and is going to be completed within 2019

 

The Regulation sets out the rules for all securitization transactions and creates a framework for simple, transparent and standardized securitization

The Regulation is both complex and far-reaching, and contemplates serious consequences for failure to comply and applies to originators, sponsors, original lenders and issuers

 

The Regulation aims to two main targets:

• repeal the main securitisation provisions in sectoral legislation applicable to banks (the CRR), insurers (Solvency II) and fund managers (the AIFMD Regime) and recast those provisions in a new, harmonised securitisation regime applicable to all institutional investors

• introduce a concept of "simple, transparent and standardised" (STS) securitisation that receive more benign regulatory treatment than other securitisations

 

The disclosure requirements of the Regulation will also be reflected in the ECB eligibility requirements for the acceptance of ABSs as collateral in the Eurosystem’s liquidity-providing operations

 

In order to facilitate the understanding of the STS Framework Regulation a new website www.stsframework.com has been edited by 130 Finance

ASSET CLASS DEAL NAME ORIGINATOR ISSUER DATE
CMBS Deco 2019-Vivaldi Deutsche Bank AG, London Branch
Deco 2019-Vivaldi S.r.l. 2019-06-06 
CMBS Erna S.r.l. 2019 Zodiac Holdings LLC
Erna S.r.l. 2019-06-04 
RMBS Media Finance S.r.l. 2019 Banca Popolare di Puglia e Basilicata Scpa
Media Finance Srl 2019-05-30 
Personal Loan Sunrise SPV Z70 2019 Agos Ducato Spa
Sunrise SPV Z70 S.r.l. 2019-05-23 
Covered Bond Intesa Sanpaolo - Eur. 20 bn. Covered Bond Programme - 2019 - 26 Intesa Sanpaolo Spa Intesa Sanpaolo Spa 2019-04-16 

DATE TITLE AUTHOR
2019-06-07 Italian Covered Bond Market - May 2019
2019-06-06 Italian Securitisation Market - May 2019 130 Finance
2019-05-16 ITALIAN TRUE SALES Data Snapshot Q2 2019 April, Interim Update 130 Finance
2019-04-23 Italian SPV Issue 1/2019 - March 2019 - Abstract for Registered Users 130 Finance
DATE TITLE REFERENCE
2019-05-29 ESMA Questions and Answers on the Securitisation Regulation ESMA - European Securities and Market Authority
2019-03-12 Opinion: of the European Banking Authority on deposit protection issues stemming from the withdrawal of the United Kingdom from the European Union EBA - European Banking Authority
2019-02-19 Opinion: Amendments to ESMA’s draft technical standards on disclosure requirements under the Securitisation Regulation ESMA - European Securities and Market Authority
2019-01-28 ITALIAN SECURITISATION GUIDE - Regulatory Framework 130 Finance
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