However, to achieve STS status, a securitisation is required to meet an extensive set of regulatory criteria. Many are complex and not always straightforward to analyse. It must be recognised that transitioning from current market practice to the new STS regime will pose legal, structural, informational and IT challenges to issuers and investors
In line with its mission to strengthen the securitisation market as a sustainable investment and funding tool for both investors and originators, PCS has committed itself to assist market participants in transitioning to the new regime.
To do this, PCS will offer STS Reports in which we will analyse a securitisation transaction, against the criteria set out in the STS Regulation to determine whether the transaction meets those criteria and, if it does not, what criteria are not met and why.
Full press release
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