DR2019-1851: consolidated version of 6 Mar 2024
- Import status
- published
- Applies from
- 6 Mar 2024
- Compared with
- 02019R1851-20191126
- Source
- 02019R1851-20240306
Read the wording changes provision by provision (the reader-facing comparison on Regulatory changes)
- Units
- 77
- Added
- 0
- Changed
- 13
- Removed
- 0
- Notes affected
- 0
Changes by article (2)
Article 1 · Homogeneity of underlying exposures
Article 1 Homogeneity of underlying exposures For the purposes of Articles 20(8), and 24(15), and 26b(8) of Regulation (EU) 2017/2402, underlying exposures shall be deemed to be homogeneous where all of the following conditions are met:
(a) they correspond to one of the following asset types:
(i) residential loans that are either secured by one or more mortgages on residential immovable property or that are fully guaranteed by an eligible protection provider among those referred to in Article 201(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council () and qualifying for the credit quality step 2 or above as set out in Part Three, Title II, Chapter 2 of that Regulation;
(ii) commercial loans that are secured by one or more mortgages on commercial immovable property, including offices or other commercial premises;
(iii) credit facilities provided to individuals for personal, family or household consumption purposes, and credit facilities provided to enterprises where the originator applies the same credit risk assessment approach as for individuals not covered under points (i) and (ii) and points (iv) to (viii);
(iv) credit facilities, including loans and leases, provided to any type of enterprise or corporation;
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(b) they are underwritten in accordance with standards that apply similar approaches for assessing associated credit risk;
(c) they are serviced in accordance with similar procedures for monitoring, collecting and administering cash receivables on the asset side of the SSPE;
(d) one or more of the homogeneity factors are applied in accordance with Article 2, where applicable.
For the purposes of point (a) of this Article, where an underlying exposure corresponds to more than one asset type, that exposure shall be assigned to only one asset type in that securitisation.
Any changes to underlying exposures in a pool that is deemed to be homogenous pursuant to this Regulation shall not affect such homogeneity where such changes are due to reasons outside the control of the originator or sponsor.
Article 2 · Homogeneity factors
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(a) type of obligor, whereby the pool consists of underlying exposures with only one of the following types of obligors:
(i) individuals, and enterprises where the originator applies the same approach for assessing the credit risk associated with exposures to enterprises as for exposures to individuals;
(ii) micro-, small- and medium-sized enterprises;
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(a) type of obligor, whereby the pool consists of underlying exposures with only one of the following types of obligors:
(i) individuals, and enterprises where the originator applies the same approach for assessing the credit risk associated with exposures to enterprises as for exposures to individuals;
(ii) micro-, small- and medium-sized enterprises;
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