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
Covered Bond Crédit Agricole Italia S.p.a. - 16 bn OBG Programme - Series 2020 - 12 Cassa di Risparmio della Spezia Spa
Crédit Agricole Cariparma S.p.A.
Banca Popolare Friuladria Spa
Crédit Agricole Cariparma S.p.A. 2020-01-17 
Covered Bond Crédit Agricole Italia S.p.a. - 16 bn OBG Programme - Series 2020 - 13 Cassa di Risparmio della Spezia Spa
Crédit Agricole Cariparma S.p.A.
Banca Popolare Friuladria Spa
Crédit Agricole Cariparma S.p.A. 2020-01-17 
NPL GACS POP NPLs 2019 S.r.l. Banca di Cividale Spa
POP NPLs 2019 S.r.l. 2019-12-23 
Personal Loan Eridano II SPV 2019 ViViBanca S.p.A.
Eridano II SPV S.r.l. 2019-12-17 
Covered Bond Intesa Sanpaolo - Eur. 50 bn. ISP OBG Covered Bond Programme - 2019 - 37 Intesa Sanpaolo Spa Intesa Sanpaolo Spa 2019-12-16 

DATE TITLE AUTHOR
2020-02-17 Italian SPV Issue 4/2019 - December 2019 - Abstract for Registered Users 130 Finance
2020-02-17 Italian SPV Issue 4/2019 - December 2019 - Full Report 130 Finance
2020-01-21 Italian Securitisation Market - December 2019 130 Finance
2020-01-20 Italian Covered Bond Market - December 2019 130 Finance
DATE TITLE REFERENCE
2019-09-30 Single Rulebook Q&A - Question ID 2018_4368 “What are the obligations of an originator who purchases third party's exposures and subsequently securitises them, in order to meet the requirements set out in Article 9 of the Securitisation Regulation?” EBA - European Banking Authority
2019-08-09 Consultation Paper - Draft guidelines on the determination of the weighted average maturity (WAM) of the contractual payments due under the tranche in accordance with point (a) of article 257(1) of Regulation (EU) n° 575/2013” EBA - European Banking Authority
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
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