ESMA_QA_1326

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1326

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Regulatory Context

Regulation : SECR

Level 1 Regulation: Securitisation Regulation (EU) 2017/2402

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: Securitisation Disclosure Templates

Subject Matter: Use LDOR code in the field for ‘Current Interest Rate Index’ or ‘Revised Interest Rate Index’

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Question

Submission Date: 31 January 2019

If a Lender’s Own Rate ‘LDOR’ is directly linked to an interest rate index (e.g. the European Central Bank Base Rate ‘ECBR’), should the code ‘LDOR’ or the code of the relevant interest index (‘ECBR’) be inserted in this field? (RREL44; RREL56; CREL111; CRPL54; CRPL66; AUTL41; CMRL38; CCDL30; LESL37; ESTL40; SEST20; SESI14; SEAT11)

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ESMA Answer

Answer Date: 31-01-2019

[ESMA 33-128-563 Securitisation Q&A, Q&A 5.2.7] Only if the Lender’s Own Rate is identical to an interest rate index (e.g. ‘ECBR’) at all times, should the code of the relevant index (‘ECBR’) be inserted in this field. In any other case, the ‘LDOR’ code should be used.

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This document was automatically extracted from the ESMA EMIR Q&A database.