We (European DataWarehouse Ltd – EDW) ask all persons wishing to access information on securitisation positions under Article 17 of the UK Securitisation Regulation (EU SR 2017/2402) (the “Securitisation Regulation”) to read the following information.
Please read this page for your protection before submitting the access request form to the securitisation repository, as it contains certain legal restrictions on the dissemination of information provided in accordance with the Securitisation Regulation. It is your responsibility to be aware of and to comply with all applicable laws and regulations in addition to complying with the terms of access set out in EDW’s Standard Terms and Conditions.
Any information provided to any person(s) wishing to access information on securitisation positions from EDW does not constitute investment or other advice and does not constitute an offer or solicitation to sell any units in any of the funds mentioned in any piece of information that may be provided by EDW.
The information contained herein is directed exclusively at persons in jurisdictions in which the publication of or access to this website is permitted by law and is not prohibited and which fall within the scope of the Securitisation Regulation. Persons affected by such prohibitions are expressly prohibited from using this website.
Please note that EDW as an authorized securitisation repository is providing information on details of securitisations in accordance with Article 17 of BTS 2020/1229 (UK Securitisation Regulation) with regard to regulatory technical standards on securitisation repository operational standards for data collection, aggregation, comparison, access and verification of completeness and consistency.
1. Eligible Information Recipient
By reviewing this Disclaimer and submitting the access request form to EDW you confirm that you or your organisation are among the recipients listed in Article 17(1)(f)(g)(i) and (j) of the Securitisation Regulation (each an Eligible Information Recipient).
Eligible Information Recipients are:
- National authority whose respective supervisory responsibilities and mandates cover transactions, markets, participants and assets which fall within the scope of the Securitisation Regulation;
- The Bank of England;
- The competent authorities referred to in Article 29 of the Securitisation Regulation
- Investors and/or potential investors
In accordance with Article 2(12) of the Securitisation Regulation, we understand Investors to be individuals or legal entities holding a securitisation position. While the scope of the “potential investors” is presently not defined in European Union law and no market practice as to the scope of the term yet exists, we understand Potential Investors as individuals or entities that are eligible to hold an exposure to a securitisation position in accordance with the Securitisation Regulation and that have a Legitimate Interest (defined in Section 2 – Request for access) in participating in such a securitisation position in the immediate future.
2.Request for access
Access to the information provided by EDW as a securitisation repository under Art. 17 of the Securitisation Regulation is subject to submitting a request by using the access request form available at https://myaccount.eurodw.co.uk/register/common
By submitting the access request form to EDW, you state that in requesting access to the selected information you pursue a Legitimate Interest.
2.1 Eligible Information Recipients of Art. 17 (1) (f)(g) and (i)
We recognise a Legitimate Interest if the request is made for the purpose of fulfilling responsibilities, mandates and obligations under the Securitisation Regulation.
2.2 Eligible Information Recipients of Art.17(1)(j)
We recognise a Legitimate Interest if the request is made for the purpose of fulfilling responsibilities, mandates and obligations under the Securitisation Regulation or other applicable laws, guidelines and/or accepted market practices that bears a direct or indirect connection to a planned investment or disinvestment in a securitisation position. In particular, information may not be accessed free of charge pursuant to Art. 17 of the Securitisation Regulation for the purpose of stress testing or any other form of internal review even in cases in which the Eligible Party as an institutional investor is subject to the stress testing requirement pursuant to Art. 5 of the Securitisation Regulation.
Consequently, EDW understands Investors to have a Legitimate Interest, if a) they qualify as any of the entities listed in Article 2(12) of the Securitisation Regulation; and b) the information they request bears a direct or indirect link to the securitisation position they are holding. EDW performs due diligence over requesting entities and reserves the right to deny the access to an entity which does not fulfil these requirements. EDW understands Potential Investors to have a Legitimate Interest if a) they qualify as any of the entities listed in Article 2(12) of the Securitisation Regulation; and b) the information they request bears a direct or indirect connection to a planned investment in a securitisation position.
EDW will as soon as possible but no later than 30 days following a request to set up access information by an Eligible Information Recipient that pursues a Legitimate Interest in accessing the information establish the technical arrangements necessary for that Eligible Information Recipient to submit requests to access that information.
EDW does not assume any liability whatsoever for access by unauthorised users and expressly reserves the right to enforce any infringed rights in court in case of unauthorized (re-)use or distribution.
3. Information to be accessed and duty of care
EDW will provide Eligible Information Recipients who have a Legitimate Interest free of charge the following information:
- all information received by EDW from reporting entities in accordance with the Securitisation Regulation;
- all information produced and stored by EDW according to Articles 2 to 4 of the BTS 2020/1229 (UK Securitisation Regulation), to the extent it is permitted to be disclosed;
- ll formulae, calculation and aggregation methods, to the extent it is permitted to be disclosed, as used to produce that information.
By requesting information from EDW under the Securitisation Regulation, you assume a duty of care towards EDW to request and process information only for the purposes set out in Article 17 of the Securitisation Regulation and the terms of this Disclaimer, including specifically Section 2 (Request for access) of this Disclaimer.
Specifically, you may use loan-level data (“LLD”) for the purpose of analysing and assessing securitisation transactions and prepare commentaries for such purpose (“Derived Data”), but only where the Derived Data, to the extent it incorporates or is derived from any of the LLD, is limited to data parameters and/or other aggregated statistical data developed internally by you by combining the LLD with other data and/or performing calculations with the information, comprising of information or additional data points from the LLD which are averaged and/or aggregated to such a degree that information concerning individual loans or individuals related to such loans cannot be identified, with a minimum of five loans per aggregation or average.
All other copying, publication, or re-distribution of the information and, in particular, LLD, is strictly prohibited unless EDW’s prior written consent has been obtained. For the avoidance of doubt, under no circumstances can LLD be used for purposes such as the development, calibration or validation of internal risk models, or any other commercial purposes not related to investment decision making.
In particular, if you are an Eligible Information Recipient under Art.17(1)(j), information accessed free of charge pursuant to Art. 17 of the Securitisation Regulation may not be used for the purpose of stress testing or any other form of internal review even in cases in which the Eligible Party as an institutional investor is subject to the stress testing requirement pursuant to Art. 5 of the Securitisation Regulation.
EDW reserves the right to take legal action against any misuse or excess in particular commercial excess use of any information provided free of charge under the Securitisation Regulation.
4. Terms and Conditions of Access
Access to the core securitisation repository services provided by EDW is subject to EDW’s Standard Terms and Conditions accessible on EDW’s website and in accordance with the provisions of the Securitisation Regulation and the RTS on operational standards.
Access to the ancillary securitisation repository services provided by EDW is subject to EDW’s Standard Terms and Conditions accessible on EDW’s website and any additional terms agreed with EDW.
5. Copyright
The information processed, stored or otherwise made available by EDW is protected by copyright; all rights are reserved. Eligible Information Recipients may use the information provided, download copies of the information in order to fulfil respective responsibilities, mandates and/or obligations, where applicable, towards Eligible Information Recipients’ own investors, regulator or other legitimate third parties.
However, Eligible Information Recipients are not entitled to copy, reproduce, transmit or distribute all or any part of the information received for any other purposes.
6.Liability
EDW does not assume liability for any of the information on securitisation positions that is submitted to EDW by originators, sponsors and/or Securitisation Special Purpose Entities (SSPEs). In particular, EDW does not verify the content nor guarantee the accuracy or correctness of the data submitted vis à vis Investors and/or Potential Investors under its obligation to verify the completeness and consistency of information pursuant to Article 4 of the RTS on the operational standards. The information provided does not constitute investment advice, legal advice, tax advice or advice in any other respect and Eligible Information Recipients are required to consult their own professional advisers. EDW accepts no liability for any loss or damage, including loss of profits or any other direct or consequential loss, arising out of the use of or reliance on the information provided to Eligible Information Recipient.
7. Warranty
In the event that any third party brings any action against EDW for your use of this website and/or your request for accessing information pursuant to Article 17 of the Securitisation Regulation, each Eligible Information Recipient hereby agrees to fully indemnify EDW for all losses, costs, actions, proceedings, demands, damages, expenses (including reasonable legal costs and fees) incurred or to be incurred by EDW as a direct result of any misuse of the website or the request for accessing information.
Neither EDW nor any Eligible Information Recipient shall thereby be liable to the other for any loss or damage suffered by either party for any cause beyond the control of the other party, including without limitation any power outage. Each Eligible Information Recipient accepts and agrees that it is their responsibility to keep any passwords that are provided to it or any authorized employees in a secure and confidential manner and not to disclose them in any way. If one or more passwords become known to an unauthorised third party (other than an Eligible Information Recipient’s authorised representative), each Eligible Information Recipient hereby agrees to immediately change those specific passwords by using the functionality available via EDW’s services.
8.Data error
In accordance with Article 7 of the RTS on the operational standards, EDW may use electronic signature and data encryption protocols to ensure the confidentiality, integrity and protection of the data made available to the Eligible Information Recipients.
EDW accepts no liability for any errors in data transmission such as loss of data, data corruption or data alteration of any kind, including direct, indirect and consequential damages, arising out of the use of the services offered herein. EDW uses standardized XML messages to communicate through the interface referred to in Section 4 of this Disclaimer. Please note that e-mail communication may not be secure. We therefore recommend that you do not send any confidential information in this way. Should you nevertheless send confidential information to us by e-mail, you do so at your own risk.
9. Website
If you have any doubts about the importance of the information contained herein, please contact your financial advisor or other independent professional advisor. The opinions expressed on this website and the information provided under Article 17 of the Securitisation Regulation do not necessarily represent the opinion of all or any part of the EDW and do not constitute investment or other advice or any recommendation.
This information has been provided by European Data Warehouse Ltd, a UK limited company registered with UK Companies House, Company Number 11650077. Registered office, Floor 37, One Canada Square, London, England, E14 5AA.