Securitisation Regulation Update: Central Bank Confirms How To Notify

Author:Mr Cormac Kissane, Glenn Butt, Aiden Small, Phil Cody, Maedhbh Clancy, Brendan Wallace and Sinéad Williams
Profession:Arthur Cox

The Central Bank has confirmed the manner in which originators, sponsors and SSPEs are to comply with the notification obligation in respect of securitisations where there has been a first issue of securities after 1 January 2019.

Notification Requirement

As mentioned in our recent briefing, the Irish Securitisation Regulations include a notification obligation on originators, sponsors and SSPEs in respect of all securitisations where there has been a first issue of securities after 1 January 2019 as follows:

the notification must be made within 15 working days after the first issue of securities; the notification must include: the ISIN (International Securities Identification Number) of the securitisation; whether the notifying party is an originator, sponsor or SSPE; where the originator, sponsor and SSPE have been allowed to designate one of their number to comply with the reporting obligation, that entity's name and address; whether the notifying party is a corporate or non-corporate entity; and the name, registered office, corporate status, and LEI (Legal Entity Identifier) of the notifying party and, to the extent that they are not the notifying party, the originator, sponsor and SSPE. How to Notify

On its new Securitisation Regulation webpage, the Central Bank has now clarified how those notifications must be made.

Supervised/Regulated Firms should use pre-existing communication channels with their supervisors within the Central Bank to submit...

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