Underthe Securitisation Regulation, securitisation is a transaction or scheme where the credit risk associated with an exposure or a pool of exposures is tranched, and all of the following characteristics are met:
According to Article 27(1) of the Securitisation Regulation, originators and sponsors must jointly notify ESMA by using the template that is provided in Article 27(7) where a securitisation meets the simple, transparent and standardised (STS) requirements. ESMA is responsible for the consistent application and enforcement of the STS criteria and for monitoring the Union securitisation markets.
ESMA maintains on its website a list of all securitisations that considered to meet the STS requirements and for which the originators and sponsors have submitted a notification by using the relevant STS notification templates. ESMA adds each securitisation notified to that list immediately and updates the list where the securitisations are no longer considered to be STS following a decision of a competent authority or a notification by the originator or sponsor. Where the competent authority has imposed administrative sanctions in accordance with Article 32 of the Securitisation Regulation, it must notify ESMA immediately and ESMA immediately indicates on the list that a competent authority has imposed administrative sanctions in relation to the securitisation concerned.
These technical standards amend Annexes I to III to the RTS 2020/1226 and ITS 2020/1227 specifying the information that is to be reported to ESMA for securitisations meeting the STS requirements for traditional securitisations.
The STS register replaces the previous STS list for traditional STS securitisations (non-ABCP securitisations, ABCP securitisations and ABCP programmes). The previous STS list for traditional STS securitisation will be disabled once all the STS traditional securitisations notified to ESMA before 2 February 2022 are migrated to the new STS register.
Until further notice, originators and sponsors should continue to submit their STS notifications of synthetic STS securitisations, cancelled synthetic STS securitisations, master trust synthetic STS securitisations and synthetic STS securitisations no longer meeting the STS requirements to the
STSnotif...@esma.europa.eu mailbox using ESMAs STS template for synthetic STS securitisations.
For more details on ESMAs STS Register, please refer to the ESMA guide on accessing the STS Register and submitting STS notifications. For any questions, please email
stsregist...@esma.europa.eu .
The list of securitisations is derived solely from the STS notifications notified to ESMA by the originators and sponsors as well as the notification of an administrative sanction to ESMA by a competent authority. Originators, sponsors and the securitisation special purpose entities (SSPE) remain responsible for the STS information, and the competent authority remains responsible for any administrative sanctions and remedial measures, and queries regarding that information should be addressed directly to each of them according to their responsibilities.
The information published in the STS Register and on the other STS lists derives exclusively from the information notified to ESMA. Therefore, ESMA does not accept any responsibility or liability for the accuracy of the information. ESMA shall not be liable for any loss of business or profits or any direct, indirect or consequential loss or damage resulting from any irregularity or inaccuracy of the information published by ESMA in the Register. ESMA aims to minimise disruption caused by technical errors. However, please note that ESMA cannot guarantee that its service will not be interrupted or otherwise affected by technical errors.
ESMA sets out disclosure requirements for all types of securitisations including details of the structure of the securitisation transaction, of the underlying exposures and of the performance of the transaction.
The XML schemas for these templates and accompanying technical reporting instructions and validation rules are available below. Since 1 September 2021, reporting entities should only use version 1 1.3.1.
The technical standards entered into force on 23 September 2020, from this date ESMA started to receive applications for registration from SRs. The duration of the application process is influenced by a number of factors, in particular the level of completeness of the application file submitted by the applicant(s).
On 25 June 2021 ESMA published a press release on the registration of the first two SRs with ESMA. The registration decisions took effect on 30 June 2021. As of that date, a reporting entity, i.e. the originator, sponsor or securitisation special purpose entity (SSPE), of a securitisation must make its reports available through one of the registered SRs.
In accordance with Article 13(3) of the Securitisation Regulation, ESMA publishes a list of registered SRs, which is updated within five working days following the adoption of a registration decision. You can find below the list of ESMA registered SRs:
On 5 October 2020, ESMA published its Final Report on the Guidelines on portability of information between securitisation repositories under the Securitisation Regulation. The purpose of the Guidelines is to set out common provisions that an SR should follow when transferring securitisation information to another SR. The Guidelines also contain two detailed annexes that cover the specific provisions that an SR should follow in the event of a request by a reporting entity to transfer securitisation information from one SR to another, or in the event of a withdrawal of an SRs registration with ESMA.
On 8 January 2019, ESMA published a Final Report containing technical standards relating to how competent authorities and the ESAs should cooperate with each other in the supervision of securitisation transactions.
Competent authorities are responsible for supervising compliance of institutional investors, originators, SSPEs, original lenders and third parties with their obligations under the Securitisation Regulation in particular:
In accordance with Article 36(3) of the Securitisation Regulation, a specific securitisation committee, the Joint Committee Securitisation Committee (JCSC), has been established within the framework of the Joint Committee of the European Supervisory Authorities to help competent authorities cooperate in order to carry out their duties. This committee, inter alia, analyses securitisation issues of a cross-sectoral nature and publishes JCSC Q&As.
These rules are adopted by the Supreme Court of New Hampshire pursuant to the authority established in Part II, Article 73-A of the New Hampshire Constitution. They take effect on January 1, 2024 and apply to all criminal actions filed on or after that date. In exceptional circumstances, when the court finds that the application of these rules to cases pending as of the effective date would not be feasible or would work an injustice, the court may exempt such cases from the application of these rules or from a particular rule.
(b) Interpretation. These rules shall be construed to provide for the just determination of every criminal proceeding. They shall be construed to secure simplicity in procedure, fairness in administration and the elimination of unjustifiable expense and delay.
(a) Complaint. The complaint is a signed written statement of the essential facts constituting the offense charged. A circuit court-district division complaint charging a class A misdemeanor or felony shall be signed under oath, provided that a complaint filed by a police officer, as defined in RSA 106-L:2, I, for a violation-level offense or a class B misdemeanor shall not require an oath. Unless otherwise prohibited by law, the court may permit a complaint to be amended if no additional or different offense is charged and if substantial rights of the defendant are not prejudiced.
(b) Issuance of Arrest Warrant. If it appears from a sworn application for an arrest warrant that there is probable cause to believe that an offense has been committed, and that the defendant committed the offense, an arrest warrant for the defendant may be issued.
(c) Arrest. When a person is arrested with a warrant, the complaint, and the return form documenting the arrest shall be filed with the circuit court in compliance with these rules. If a person is arrested without a warrant, the complaint shall be filed in compliance with these rules and, if the person is detained in lieu of bail, an affidavit, or statement signed under oath, if filed electronically, that complies with Gerstein v. Pugh, 420 U.S. 103 (1975) must be filed.
(d) Summons. When the complaint charges a felony, a summons may not be issued. In any case in which a peace officer has probable cause to believe that a person has committed a misdemeanor or violation, the officer may issue to the person in hand a written summons in lieu of arrest, except when issuance of a summons is prohibited by law. In any other misdemeanor or violation case in which an arrest warrant would be lawful, the person authorized by law to issue an arrest warrant may issue a summons if the person deems an arrest unnecessary. A summons shall be in the form required by statute. See RSA 594:14. If a defendant, after receiving notice of the hearing date, fails to appear as required by the summons, a warrant may be issued. A person who fails to appear in response to a summons may be charged with a misdemeanor as provided by statute. Upon issuance of a summons, the complaint and summons shall be filed with a court of competent jurisdiction without unreasonable delay but no later than 14 days prior to the date of arraignment.
(1) If the defendant is not detained prior to arraignment, the complaint shall be filed no later than fourteen (14) days prior to the date of arraignment. If a statute or an administrative order requires specific scheduling timeframes for the arraignment, the complaint shall be filed as soon as possible prior to the arraignment.
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