Starting today, to make it easier for you to comply with the regulations, we have given you access to our new ESMA reporting solution in EDitor.

With the level 2 guidelines on reporting almost close to being finalised, we want to reinforce our commitment to serve you and help you comply with the Securitisation Regulation (EU) 2017/2402.

To help, we have answered a few of our most common questions below. We’re aware this matter is complex, so we’ve done our best communicate this in the clearest way possible. If you have any questions, please do not hesitate to reach out to our team.

Can I upload an ESMA compliant deal before the European Commission releases the final templates?

Of course, and several issuers have already done this. You can upload these deals using parameters outlined in Article 7(2), which covers deals issued in the transitional period.

How can my organisation comply during the transitional period?

The answer is different depending on what your goals are. In addition to the guidelines below, we’ve created a reporting guide here.

  • If you are seeking ESMA eligibility and ECB Eligibility…
    If you are seeking both ECB and ESMA eligibility during the transitional period, we suggest that you upload all ECB relevant data and documentation as usual under the “Deals (ECB)” menu of EDITOR. In addition, you can add upload further documentation in compliance with Article 7 of the Securitisation Regulation (EU) 2017/2402 to the same deal in order to comply with the transitional arrangements
  • If you are seeking only ECB eligibility…
    If the deal is issued on or after 1 January 2019, you must seek ESMA eligibility as well now that the Securitisation Regulation is in full effect. See point A above.If this is a legacy deal, you can upload just as you would have before 1 January 2019.
  • If you are seeking only ESMA eligibility…
    …and there is a dedicated CRA3 Template for this asset class (RMB, SME, CMR, AUT, LES, CMBS, CRE) we suggest that you upload the relevant CRA3 template and any additional documentation under the “Deals (ECB)” menu of EDITOR.
    …and there is no dedicated CRA3 Template for this asset class (CLO, ABCP etc.) you should upload all relevant documentation by creating a deal under the newly available “Deals (ESMA)” tab of EDITOR. Here you can upload unstructured data as well as all relevant documentation in compliance with Article 7of the Securitisation Regulation (EU) 2017/2402.

I’m not ready to issue, but I’d like to prepare to do so. How can I test the new ESMA templates before they go into force?

You can test the new ESMA templates in our sandbox environment (https://editor-sandbox.eurodw.eu). Starting Apr 7th, you can upload test data as per ESMA’s latest (as of 31 January 2019) RMB & AUT underlying exposures, Investor Report and Significant Event templates. We will keep you informed as we continue to enable support for more ESMA templates in the coming weeks. You can access this environment using the same credentials as the live environment, except for users who have explicitly setup a different password.

This sandbox environment is relevant for customers in all asset classes and product types including ABS, as well as CLOs and ABCP issuers.

As always, contact our team at enquiries@eurodw.eu if you require assistance complying with the Securitisation Regulation using EDitor or if you have any further questions.