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
Personal Loan Silver Arrow Merfina 2019-1 S.r.l. Mercedes-Benz Financial Services Italia S.p.A.
Silver Arrow Merfina 2019-1 S.r.l. 2019-07-03 
Covered Bond Mediobanca - Eur 5 bn Covered Bond Programme - 2019/7 - 1 Che Banca! SpA MEDIOBANCA – Banca di Credito Finanziario Spa 2019-07-01 
RMBS Asti Group RMBS II S.r.l. 2019 Cassa di Risparmio di Asti
Asti Group RMBS II S.r.l. 2019-06-28 
Personal Loan Golden Bar (Securitisation) 2019-1 Santander Consumer Bank Spa
Golden Bar Srl 2019-06-25 
SME Siena PMI 2016 Series 2 Banca Monte dei Paschi di Siena Spa
Siena PMI 2016 S.r.l. 2019-06-25 

DATE TITLE AUTHOR
2019-07-03 Italian Securitisation Market - June 2019 130 Finance
2019-07-02 Italian Covered Bond Market - June 2019 130 Finance
2019-06-25 Italian True Sales Data Snapshot Q2 2019 May, Interim Update 130 Finance
2019-04-23 Italian SPV Issue 1/2019 - March 2019 - Abstract for Registered Users 130 Finance
DATE TITLE REFERENCE
2019-07-11 ITALIAN SECURITISATION GUIDE - Regulatory Framework 130 Finance
2019-06-24 Draft RTS on authorisation of firms providing STS verification services ESMA - European Securities and Market Authority
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
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