ESMA_QA_1384

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1384

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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: Annex 3: Underlying Exposures - Commercial Real Estate - Noteholder Consent

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Question

Submission Date: 15 November 2019

Further interpretations of what is meant by ‘Is Noteholder consent needed in any restructuring?’ in the Content to Report for this field.

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ESMA Answer

Answer Date: 15-11-2019

[ESMA 33-128-563 Securitisation Q&A, Q&A 5.5.7] ”YES” is used to signify that some form of Noteholder consent is needed in at least certain restructuring contexts. It does not mean that the consent of all Noteholders is required in all restructuring contexts.

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