Following the approval by the European Parliament on the 26 October 2017 and by the EU Council during November 2017, Regulation (EU) 2017/2402 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation (the Securitisation Regulation) and Regulation (EU) 2017/2401 amending Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (in relation to securitisation positions) were published in the Official Journal on the 12 December 2017.

The Regulations came into force on the 1 January 2018, the 20th day after it was published in the Official Journal. The date of application of the new Regulations shall be 1 January 2019, allowing for European Supervisory Authorities EBA and ESMA the necessary time to develop the regulatory technical standards required to implement the Regulation.

The new STR/CRR legislative package was agreed upon following lengthy negotiations by the Maltese EU Council presidency team, co-chaired by GANADO Advocates lawyer Nicholas Curmi during the first half of 2017. The European Commission had welcomed this agreement as an essential step towards a fully functioning Capital Markets Union by the end of 2019.

To read the published Regulations, please click on the links below:

STS Regulation (Securitisation)

CRR Regulation (Securitisation)