Regulatory Alerts2019-05-30
Added · Updated
Instruction No. 7/2019
This Instruction incorporates the European Banking Authority’s guidelines on STS criteria for ABCP and non-ABCP securitizations into Portuguese law, requiring less significant credit institutions and investment firms acting as institutional investors to implement due diligence practices under Regulation (EU) 2017/2402. It also applies to credit institutions acting as sponsors regarding specific regulatory provisions. The document mandates that these entities ensure robust assessment of securitization operations and risks, noting that STS notifications do not replace rigorous due diligence.
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