European DataWarehouse Launches Reporting Solution for Upcoming Securitisation Regulation
European DataWarehouse (ED) today announced it has launched a new reporting solution that will enable interested parties to prepare and submit ABS loan-level data, investor report data and relevant documentation in compliance with the disclosure requirements of Article 7 of the Securitisation Regulation (EU) 2017/2402, which applies from 1 January 2019.
The reporting solution is integrated into EDitor, ED’s web application for the seamless analysis and upload of loan-level data (LLD). EDitor was initially built to enable users to pre-screen and analyse LLD files and upload them in accordance with the European Central Bank’s (ECB) ABS loan-level initiative. The new reporting solution and related enhancements of EDitor mark a transition towards the new regulatory environment.
The first release of the reporting solution will be available starting 1 October 2018 and will enable users to create test deals and upload test files in line with the requirements outlined in the European Securities and Markets Authority (ESMA) templates published on 22 August 2018 as part of the Securitisation Regulation (EU) 2017/2402. The first release of the reporting solution supports testing for ABS deals with automobile exposures. European DataWarehouse is dedicated to publishing further templates once ESMA releases the final XML schemata.
In a previous announcement, ED announced its intention to become registered as a securitisation repository authorised and supervised by ESMA.
Christian Thun, CEO of ED stated: “European DataWarehouse is determined to become the first securitisation repository under the regulatory framework. The launch of our reporting solution will help the industry prepare for the new regulation months before it will apply. We’re dedicated to ushering our clients into this new regulatory environment with as much guidance and support as possible. The changes between the ECB LLD templates and those outlined in ESMA’s Final Report (ESMA33-128-474) are significant, and it is important that the market has time to prepare with a reporting solution such as this”.
About European DataWarehouse GmbH
European DataWarehouse (ED) is the first and the only 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 and compare portfolios on a systematic basis.
ED was established in 2012 as part of the implementation of the ECB ABS loan-level initiative. Since its inception as an initiative by the leading participants of the European securitisation market, ED has collected LLD and relevant documentation for more than 1,200 transactions.
For the latest updates from European DataWarehouse, please visit www.eurodw.eu .
European DataWarehouse GmbH
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