The platform enabled financial actors as well as policymakers to better assess and understand the embedded risks in securitised portfolios. The final compromise version of the STS Regulation published last week is significant in many ways. In particular, it creates for the first time a system of registration and supervision for ABS data repositories established in the EU.
‘Securitisation repositories’ as they are called, will be subject to the same ongoing governance, technical and operational requirements as trade repositories under the EMIR framework. They will be expected to store not just loan-level data, but also all other documentation which the Regulation requires originators, sponsors and issuers to disclose under its transparency rules..