EBU Single Rulebook Q&A 1 February 2019 2019_4502 Applicability of Look through Approach to SPV (Article 132 CRR)

May the look-through approach be applied for exposures in Notes issued by a special purpose vehicle, with no tranches, - which is unclear whether it qualifies as an undertaking for collective investment according to the applicable national law -, where the paid out of the each Note are the net proceeds of the loan receivables portfolio allocated to such Note (provided the additional requirements