Updated 22/12/2024
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Article 3 - Information to be reported

Article 3

Information to be reported

Where a structured finance instrument is backed by any of the underlying assets referred to in Article 4, the reporting entity shall provide the following information to the SFIs website:

(a)

loan level information through the standardised disclosure templates included in Annexes I to VII;

(b)

where applicable to a structured finance instrument, the following documents, including a detailed description of the waterfall of payments of the structured finance instrument:

(i)

the final offering document or prospectus, together with the closing transaction documents, including any public documents referenced in the prospectus or which govern the workings of the transaction and excluding legal opinions;

(ii)

the asset sale agreement, assignment, novation or transfer agreement and any relevant declaration of trust;

(iii)

the servicing, back-up servicing, administration and cash management agreements;

(iv)

the trust deed, security deed, agency agreement, account bank agreement, guaranteed investment contract, incorporated terms or master trust framework or master definitions agreement;

(v)

any relevant inter-creditor agreements, swap documentation, subordinated loan agreements, start-up loan agreements and liquidity facility agreements;

(vi)

any other underlying documentation that is essential for the understanding of the transaction;

(c)

where a prospectus has not been drawn up in compliance with Directive 2003/71/EC of the European Parliament and of the Council (4), a transaction summary or overview of the main features of a structured finance instrument, including:

(i)

deal structure;

(ii)

the asset characteristics, cash flows, credit enhancement and liquidity support features;

(iii)

the note holder voting rights, the relationship between note holders and other secured creditors in a transaction;

(iv)

a list of all triggers and events referred to in the documents provided to the SFIs website in accordance with point (b) that could have a material impact on the performance of the structured finance instruments;

(v)

the structure diagrams containing an overview of the transaction, the cash flows and the ownership structure;

(d)

the investor reports, containing the information included in Annex VIII.


(4)  Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC (OJ L 345, 31.12.2003, p. 64).