European Commission 7 July 2023, Commission Delegated Regulation (EU) 2023/2175 of 7 July 2023 on supplementing Regulation (EU) 2017/2402 of the European Parliament and of the Council with regard to regulatory technical standards specifying in greater detail the risk retention requirements for originators, sponsors, original lenders, and servicers

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European Union · · · Cited by 9 · 07-07-2023

Article 1. Definitions
Article 2. Retainers of a material net economic interest
Article 3. Fulfilment of the retention requirement through a synthetic or contingent form of retention
Article 4. Retention equivalent to not less than 5 % of the nominal value of each of the tranches sold or transferred to investors
Article 5. Retention of the originator’s interest in a revolving securitisation or securitisation of revolving exposures
Article 6. Retention of randomly selected exposures equivalent to no less than 5 % of the nominal value of the securitised exposures
Article 7. Retention of the first loss tranche
Article 8. Retention of a first loss exposure of not less than 5 % of every securitised exposure
Article 9. Application of the retention options on traditional NPE securitisations
Article 10. Measurement of the level of retention
Article 11. Measurement of the material net economic interest to be retained for exposures in the form of drawn and undrawn amounts of credit facilities
Article 12. Prohibition of hedging or selling the retained interest
Article 13. Transactions for which the retention requirement does not apply, as referred to Article 6(6) of Regulation (EU) 2017/2402
Article 14. Retention on a consolidated basis
Article 15. Requirements on the allocation of cash flows and losses to the retained interest and on fees payable to the retainer
Article 16. Fulfilment of the retention requirement in securitisations of own issued debt instruments
Article 17. Retention requirement in resecuritisations
Article 18. Assets transferred to the SSPE
Article 19. Expertise requirement on the servicer of traditional NPE securitisations
Article 20. Repeal
Article 21. Entry into force

Official Journal
of the European Union

Series L

2023/2175

18.10.2023

COMMISSION DELEGATED REGULATION (EU) 2023/2175

of 7 July 2023

on supplementing Regulation (EU) 2017/2402 of the European Parliament and of the Council with regard to regulatory technical standards specifying in greater detail the risk retention requirements for originators, sponsors, original

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