imported>Doug Williamson |
imported>Doug Williamson |
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| ''European Union (EU).''
| | A claim which enjoys a ranking ahead of others in a liquidation. |
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| The EU Securitisation Regulation (EU) 2017/2402 applies generally to securitisations issued on or after 1 January 2019.
| | Senior claims, therefore, carry a relatively lower degree of [[credit risk]]. |
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| The Securitisation Regulation legislative package introduces severe penalties (including fines of up to 10% of annual net turnover on a
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| consolidated basis) for non-compliance applied to issuers, original lenders, originators and sponsors.
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| It repeals the main securitisation provisions in existing separate legislation for banks (the Capital Requirements
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| Regulation, or "CRR"), insurers (Solvency II) and fund managers (the Alternative Investment Fund Managers Directive (AIFMD)
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| regime). It replaces them with a harmonised securitisation regime applicable to all institutional investors including UCITS and pension funds.
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| It also introduces a concept of "simple, transparent and standardised" (or "STS") securitisations that are regulated more lightly than other securitisations.
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| == See also == | | == See also == |
| * [[Capital Requirements Regulation]] | | * [[Junior]] |
| * [[CDO]] | | * [[Senior debt]] |
| * [[CMBS]] | | * [[Tranche]] |
| * [[Covered bond]]
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| * [[Factoring]]
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| * [[Issuer]]
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| * [[Originator]]
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| * [[Prospectus]]
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| * [[Prospectus Regulation]]
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| * [[Securitisation]]
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| * [[Securitisation special purpose vehicle]]
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| * [[Securitisation swap]]
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| * [[Security]]
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| * [[Significant Risk Transfer]]
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| * [[Solvency II]]
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| * [[Sponsor]]
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| * [[SSPE]]
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| * [[Sukuk]]
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| * [[UCITS]]
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| * [[Whole business securitisation]]
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| ==Other links==
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| [https://www.treasurers.org/system/files/The_EU_Securitisation_Regulation___do_I_need_to_worry_6040565.pdf The EU Securitisation Regulation – Do I need to worry?]
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| [[Category:Accounting,_tax_and_regulation]] | | [[Category:Corporate_finance]] |
| [[Category:Intercompany_funding]]
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| [[Category:Long_term_funding]] | | [[Category:Long_term_funding]] |
| [[Category:Financial_products_and_markets]] | | [[Category:Compliance_and_audit]] |
| | [[Category:Manage_risks]] |
| | [[Category:Treasury_operations_infrastructure]] |
