2017R2402 - Summary
REGULATION (EU) 2017/2402 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012
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🇫🇷 French Version: 2017R2402_FR.0. Open the PDF. Direct link to EUR-LEX.
CHAPTER 1 - GENERAL PROVISIONS
Article 1 - Subject matter and scope
Article 2 - Definitions
Article 3 - Selling of securitisations to retail clients
Article 4 - Requirements for SSPEs
CHAPTER 2 - PROVISIONS APPLICABLE TO ALL SECURITISATIONS
Article 5 - Due-diligence requirements for institutional investors
Article 6 - Risk retention
Article 7 - Transparency requirements for originators, sponsors and SSPEs
Article 8 - Ban on resecuritisation
Article 9 - Criteria for credit-granting
CHAPTER 3 - CONDITIONS AND PROCEDURES FOR REGISTRATION OF A SECURITISATION REPOSITORY
Article 10 - Registration of a securitisation repository
Article 11 - Notification and consultation with competent authorities prior to registration or extension of registration
Article 12 - Examination of the application
Article 13 - Notification of ESMA decisions relating to registration or extension of registration
Article 14 - Powers of ESMA
Article 15 - Withdrawal of registration
Article 16 - Supervisory fees
Article 17 - Availability of data held in a securitisation repository
CHAPTER 4 - SIMPLE, TRANSPARENT AND STANDARDISED SECURITISATION
Article 18 - Use of the designation ‘simple, transparent and standardised securitisation’
SECTION 1 - Requirements for simple, transparent and standardised non-ABCP traditional securitisation
Article 19 - Simple, transparent and standardised non-ABCP traditional securitisation
Article 20 - Requirements relating to simplicity
Article 21 - Requirements relating to standardisation
Article 22 - Requirements relating to transparency
SECTION 2 - Requirements for simple, transparent and standardised ABCP securitisation
Article 23 - Simple, transparent and standardised ABCP securitisation
Article 24 - Transaction-level requirements
Article 25 - Sponsor of an ABCP programme
Article 26 - Programme-level requirements
SECTION 2a - Requirements for simple, transparent and standardised on-balance-sheet securitisations
Article 26a - Simple, transparent and standardised on-balance-sheet securitisations
Article 26b - Requirements relating to simplicity
Article 26c - Requirements relating to standardisation
Article 26d - Requirements relating to transparency
Article 26e - Requirements concerning the credit protection agreement, the third-party verification agent and the synthetic excess spread
SECTION 3 - STS notification
Article 27 - STS notification requirements
Article 28 - Third party verifying STS compliance
CHAPTER 5 - SUPERVISION
Article 29 - Designation of competent authorities
Article 30 - Powers of the competent authorities
Article 31 - Macroprudential oversight of the securitisation market
Article 32 - Administrative sanctions and remedial measures
Article 33 - Exercise of the power to impose administrative sanctions and remedial measures
Article 34 - Criminal sanctions
Article 35 - Notification duties
Article 36 - Cooperation between competent authorities and the ESAs
Article 37 - Publication of administrative sanctions
CHAPTER 6 - AMENDMENTS
Article 38 - Amendment to Directive 2009/65/EC
Article 39 - Amendment to Directive 2009/138/EC
Article 40 - Amendment to Regulation (EC) No 1060/2009
Article 41 - Amendment to Directive 2011/61/EU
Article 42 - Amendment to Regulation (EU) No 648/2012
Article 43 - Transitional provisions
Article 43a - Transitional provisions for STS on-balance-sheet securitisations
Article 44 - Reports
Article 45a - Development of a sustainable securitisation framework
Article 46 - Review
Article 47 - Exercise of the delegation
Article 48 - Entry into force