Securitisation Regulation: PRA and FCA joint statement on reporting of private securitisations

This statement sets out how the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) direct the manner in which firms must make information regarding ‘private’ securitisations available to their UK competent authorities.

Update 31 January 2019: The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) published the final direction on the manner in which firms must make information regarding ‘private’ securitisations available to their UK competent authorities. This direction is applicable to all UK established originators, sponsors and securitisation special purpose entities (SSPEs).

The annex to this statement includes the template to be used for notifying the PRA and FCA.

This direction comes into effect from Thursday 31 January 2019.

Update 15 January 2019: Following comments from firms and other industry participants, the final direction applicable to all UK established originators, sponsors and securitisation special purpose entities (SSPEs) has been delayed and will be published by the end of January 2019, rather than on Tuesday 15 January 2019 as originally specified.

Published on 20 December 2018

Further to Policy Statement 29/18 ‘Securitisation: The new EU framework and Significant Risk Transfer’, this statement sets out how the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) propose to direct the manner in which firms must make information regarding ‘private’ securitisations available to their UK competent authorities.

The annex to this statement sets out the proposed template to be used for the purpose of notifying the PRA and FCA.

This direction is intended to apply to all UK established originators, sponsors and securitisation special purpose entities (SSPEs) from Tuesday 15 January 2019.

If a firm wishes to raise concerns regarding the approach described in this statement, it should contact both private.securitisation@fca.org.uk and securitisation.information@bankofengland.co.uk by Friday 11 January 2019.
- Securitisation Regulation: PRA and FCA joint statement on reporting of private securitisations (pdf)
- Annex - FCA-PRA private securitisation notification template (xlsx)