ESMA_QA_1368

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1368

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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: Original Valuation Method

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Question

Submission Date: 19 November 2021

How should this field be completed where the property in question is under construction?

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ESMA Answer

Answer Date: 19-11-2021

[ESMA 33-128-563 Securitisation Q&A, Q&A 5.3.34] Where a property is under construction, the reporting entity should choose the option which most accurately reflects the way in which the property was valuated. In this case, the options “Full, internal and external inspection (FIEI)” and “Full, only external inspection (FOEI)” will never be appropriate.

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