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Clifford Chance

Clifford Chance


The EU Securitization Regulation - Considerations for US Issuers, Originators and Sponsors

11 February 2019

The European Union (EU) Securitization Regulation (the "Securitization Regulation"), which replaces previously sectoral securitization rules and provides a harmonized regime, took effect on January 1, 2019. Unlike the US securitization rules, EU law continues to impose significant compliance obligations on certain EU regulated entities that invest in securitizations. As a result, US securitizers offering asset-backed securities to EU institutional investors may be indirectly affected by the Securitization Regulation's requirements.

We have recently published a briefing that provides a detailed overview of this new regime, as well as a briefing that discusses application of this new regime in more detail. In this briefing, we consider the main elements of the Securitization Regulation relevant to US issuers, originators and sponsors, and what compliance under the Securitization Regulation would mean for their transactions.

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