The Committee of European Banking Supervisors (CEBS) has published its consultation paper (CP40) on guidelines to the new Article 122a of the Capital Requirements Directive (CRD).
Article 122a of the CRD provides new requirements to be fulfilled by credit institutions when acting in a particular capacity, such as originator, sponsor, or original lender and also when investing in securitisations. These include retention - on an on-going basis - of a material net economic interest of not less than 5% (so called “skin in the game”), due diligence and, disclosure.
CEBS submits its initial views for a public consultation which starts today and runs until 1 October 2010. Comments received will be published on CEBS’s website unless respondents request otherwise. Please send your comments to the following email address: email@example.com
CEBS would particularly welcome market participants’ views on the questions set out across the paper. The consultation is open to all interested parties, including supervised institutions and other market participants.
A public hearing will take place on 22 July 2010 at CEBS’s premises from 10:30 - 13:00
in order to allow all interested parties to present their comments.
Registration forms should be received by Wednesday, 14 July 2010