Clifford Chance
ESAs Joint Advice: A False Dawn for the European Securitisation Prudential Framework?
29 August 2023
This is an update of an article originally published on 5 June 2023 as part of our publication "Securitisation markets and regulation: choosing different paths?", accessible here.
On 12 December 2022, the European Supervisory Authorities ("ESAs") provided a set of joint advice to the Commission about the prudential frameworks for securitisation applicable to banks and insurers.In their response, the ESAs recommended limited changes to the framework for banks and no changes to the framework for insurers.
This article considers that advice, the direction of travel for those prudential frameworks and the potential impact on securitisation in Europe.
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