The EU’s new STS database of securitisations – where the acronym is short for “Simple, Transparent and Standardised” – has now been launched properly, after an interim solution where a list could be downloaded. It features the compulsory notifications from both originators and sponsors on securitisations under the Securitisation Regulation.
The go-live was presented in a press release last week, and the STS Register database itself is publicly available too. It was at the beginning of 2019 that the obligation came into force, for originators and sponsors to jointly notify ESMA and their national competent authorities that a securitisation meets the STS criteria for being granted the STS label.
Despite the launch of the automated service, synthetic STS securitisations will continue to be reported through the interim solution.
Commenting in the press release, ESMA chair Verena Ross describes the register as a step to improve efficiency and timeliness of the notifications. “In addition, investors and supervisors will have improved access to individual STS securitisations to assist them in performing their respective due diligence and supervisory tasks,” she adds.