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Position paper on securitisations published

Insurance Europe has published a position paper on the draft regulation for a European framework for simple, transparent and standardised securitisation (STS).

Insurance Europe said, given that the STS criteria are broadly in line with the Solvency II framework for high-quality securitisations, some of the modifications to the capital treatment that are envisaged for STS securitisations should already be implemented under Solvency II, eg the inclusion of non-senior tranches in the scope of a tailored capital treatment.

Insurance Europe explained that the capital charges for STS securitisations should be aligned with the charges for corporates of the same credit quality. It also stressed that the STS criteria should be verified by an independent third party and the certification should become compulsory.

Published 16 November 2015
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