Regulatory Alerts2021-02-05
Added · Updated
Guidelines on portability of information between securitisation repositories under the Securitisation Regulation
Securitisation repositories must establish policies and execute migration plans for the orderly transfer of securitisation information to other repositories, covering both voluntary reporting entity requests and registration withdrawals. The guidelines mandate the use of XML formats, secure machine-to-machine protocols, and cryptographic checksums, requiring transfers to occur on non-working days unless otherwise agreed. Specific timelines apply, including a five-day window for resolving discrepancies and notice periods of six or nine months for voluntary registration withdrawals. Additionally, old repositories are prohibited from charging fees for recordkeeping after transfer and must securely destroy transferred data upon cessation of operations.
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