Securitisation and structured products

This Overview provides a guide to the Financial Services content within the Securitisation and structured products subtopic, with links to the appropriate materials.

EU and UK regulation of securitisation and structured products

For high-level guidance on the EU regulatory regime for securitisation and structured products, see Practice Note: EU and UK regulation of structured products and securitisation—one minute guide. For a discussion on sustainable securitisations, see Practice Note: Sustainable securitisations.

The Securitisation Regulation and related measures

As part of the Capital Markets Union Action Plan, the European Commission proposed to differentiate simple, transparent and standardised (STS) securitisations which would benefit from reduced due diligence burdens and more appropriate prudential requirements for banks' and insurers' investments in STS products.

The Commission’s securitisation initiative resulted in:

•
Regulation (EU) 2017/2402 (the EU Securitisation Regulation) that applies to all EU securitisations and includes due diligence, risk retention and transparency rules, together with the criteria for STS securitisations, and
•
Regulation (EU) 2017/2401 (the EU CRR Amendment Regulation) which amends the Capital Requirements Regulation (EU) 575/2013 and makes the capital treatment of securitisations for banks and investment firms

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