European DataWarehouse Aims to Become the First Securitisation Repository under the New “Simple, Transparent and Standardized” (STS) Framework
European DataWarehouse GmbH
Marketing & Communications Manager
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On December 28, 2017 the European Union published, in its Official Journal, the regulation for simple, transparent and standardised (STS) securitisations ushering in a uniform regulatory framework for all European securitisations.
To enhance market transparency, the new regulation is establishing a framework for securitisation repositories to collect relevant reports, documentation and details on the underlying exposures in securitisations (loan-level data). The securitisation repositories seeking to be designated should be registered and supervised by the European Securities and Markets Authority (ESMA).
The European DataWarehouse (ED) was established in 2012 as part of the implementation of the European Central Bank’s ABS loan-level initiative. Since its inception as an initiative by the leading participants of the European securitisation market, ED acted as a repository that has collected loan-level data and relevant documentation for more than 1,150 transactions.
Given its unique experience with securitisation data, ED aims to be registered for the status as a securitisation repository authorised and supervised by ESMA at the earliest possible date.
Christian Thun, CEO of ED stated: “At the European DataWarehouse we have been serving issuers and investors of ABS in the European Union for more than five years. The new disclosure requirements under the new STS framework will be a challenge for our clients as well as for us. Nonetheless, the European DataWarehouse is determined to become the first securitisation repository under the new STS framework in order to cater for the needs of the market.”
ED’s Chairman Prof. José Manuel González-Páramo added:
“The European DataWarehouse successfully contributed to the transparency in the European ABS market supporting the ECB’s effort to restore confidence in this important financial instrument. Leveraging its proven infrastructure, I am confident that ED will be the first to register as a securitisation repository under the new STS framework and define the best practice for the operations of a securitisation repository.”
Notes to editors
European DataWarehouse (ED) is the first centralised data repository in Europe for collecting, validating and distributing detailed, standardised and asset class specific loan-level data for Asset-Backed Securities (ABS) and private whole loan portfolios. ED stores loan-level data and corresponding documentation for investors and other market participants. Operating as a market infrastructure and designated by the Eurosystem, ED aims to increase transparency and restore confidence in the ABS market. Through ED‘s data, users are able to analyse underlying portfolios in a more efficient way and compare portfolios on a systematic basis.
ED currently hosts data for more than 1150 public ABS transactions across Europe.
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