# Official Journal L 2/2015

| | ISSN 1977-0677 |
| --- | --- |
| Official Journal
  of the European Union | L 2 |
| | |
| English edition | Legislation | Volume 586 January 2015 |

ISSN 1977-0677

Official Journal

of the European Union

L 2

English edition

Legislation

Volume 586 January 2015

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| Contents | | II   Non-legislative acts | page |
| --- | --- | --- | --- |
| | | REGULATIONS |
| | * | Commission Delegated Regulation (EU) 2015/1 of 30 September 2014 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards for the periodic reporting on fees charged by credit rating agencies for the purpose of ongoing supervision by the European Securities and Markets Authority (
  1
  ) | 1 |
| | * | Commission Delegated Regulation (EU) 2015/2 of 30 September 2014 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards for the presentation of the information that credit rating agencies make available to the European Securities and Markets Authority (
  1
  ) | 24 |
| | * | Commission Delegated Regulation (EU) 2015/3 of 30 September 2014 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on disclosure requirements for structured finance instruments  (
  1
  ) | 57 |

Contents

II   Non-legislative acts

page

REGULATIONS

*

Commission Delegated Regulation (EU) 2015/1 of 30 September 2014 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards for the periodic reporting on fees charged by credit rating agencies for the purpose of ongoing supervision by the European Securities and Markets Authority (
  1
  )

1

1

*

Commission Delegated Regulation (EU) 2015/2 of 30 September 2014 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards for the presentation of the information that credit rating agencies make available to the European Securities and Markets Authority (
  1
  )

1

24

*

Commission Delegated Regulation (EU) 2015/3 of 30 September 2014 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on disclosure requirements for structured finance instruments  (
  1
  )

1

57

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| | (1)   Text with EEA relevance |

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(1)   Text with EEA relevance

1

| EN | Acts whose titles are printed in light type are those relating to day-to-day management of agricultural matters, and are generally valid for a limited period.
  The titles of all other Acts are printed in bold type and preceded by an asterisk. |
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EN

Acts whose titles are printed in light type are those relating to day-to-day management of agricultural matters, and are generally valid for a limited period.

The titles of all other Acts are printed in bold type and preceded by an asterisk.

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II Non-legislative acts

REGULATIONS

| 6.1.2015 | EN | Official Journal of the European Union | L 2/1 |
| --- | --- | --- | --- |

6.1.2015

EN

Official Journal of the European Union

L 2/1

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COMMISSION DELEGATED REGULATION (EU) 2015/1

of 30 September 2014

supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards for the periodic reporting on fees charged by credit rating agencies for the purpose of ongoing supervision by the European Securities and Markets Authority

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (1), and in particular the third subparagraph of Article 21(4a) thereof,

Whereas:

| (1) | Article 11(3) and point 2 of Part II of Section E of Annex I to Regulation (EC) No 1060/2009 require a credit rating agency to annually disclose to ESMA the list of fees charged to each client for individual credit ratings and any ancillary services, as well as its pricing policy, including the fees structure and pricing criteria in relation to credit ratings for different asset classes. It is essential to provide for the technical details regarding the content to be reported and the format to be used by credit rating agencies in order to comply with their obligations and to allow ESMA to exercise its ongoing supervisory powers. |
| --- | --- |

(1)

Article 11(3) and point 2 of Part II of Section E of Annex I to Regulation (EC) No 1060/2009 require a credit rating agency to annually disclose to ESMA the list of fees charged to each client for individual credit ratings and any ancillary services, as well as its pricing policy, including the fees structure and pricing criteria in relation to credit ratings for different asset classes. It is essential to provide for the technical details regarding the content to be reported and the format to be used by credit rating agencies in order to comply with their obligations and to allow ESMA to exercise its ongoing supervisory powers.

| (2) | In order to mitigate conflicts of interest and facilitate fair competition in the credit rating market, ESMA should ensure that pricing policies, procedures and ultimately fees charged by credit rating agencies to clients are not discriminatory. Differences in fees charged for the same type of service should be justifiable by a difference in the actual costs in providing the service to different clients. Moreover, the fees charged for credit rating services to a given issuer should not depend on the results or outcome of the work performed. |
| --- | --- |

(2)

In order to mitigate conflicts of interest and facilitate fair competition in the credit rating market, ESMA should ensure that pricing policies, procedures and ultimately fees charged by credit rating agencies to clients are not discriminatory. Differences in fees charged for the same type of service should be justifiable by a difference in the actual costs in providing the service to different clients. Moreover, the fees charged for credit rating services to a given issuer should not depend on the results or outcome of the work performed.

| (3) | The fee information to be submitted by registered credit rating agencies should allow ESMA to identify credit ratings that would require more in-depth scrutiny and possible further supervisory follow-up actions. Similar fees should be charged for credit ratings and ancillary services with similar features, differences in fee levels being justified on the basis of cost differences. The information collected should allow ESMA to identify, for each registered credit rating agency, comparable services and their respective fees and therefore to detect any significant deviations in fees charged. ESMA can thereafter undertake investigations to verify that any such fees are set according to lawful pricing policies and procedures and differences in fee levels based on cost differences are consistent with the principles of fair competition, are not due to conflicts of interest and do not depend on the results or outcome of the work performed. |
| --- | --- |

(3)

The fee information to be submitted by registered credit rating agencies should allow ESMA to identify credit ratings that would require more in-depth scrutiny and possible further supervisory follow-up actions. Similar fees should be charged for credit ratings and ancillary services with similar features, differences in fee levels being justified on the basis of cost differences. The information collected should allow ESMA to identify, for each registered credit rating agency, comparable services and their respective fees and therefore to detect any significant deviations in fees charged. ESMA can thereafter undertake investigations to verify that any such fees are set according to lawful pricing policies and procedures and differences in fee levels based on cost differences are consistent with the principles of fair competition, are not due to conflicts of interest and do not depend on the results or outcome of the work performed.

| (4) | Pricing policies and procedures should be reported for each rating type. For reporting purposes and in order to clearly distinguish each pricing policy and procedure and their respective updates, each version of the pricing policies with its respective fee schedules, fee programmes and procedures should have an identification number. For all other purposes, the pricing policies should include the fee structures or fee schedules as well as the pricing criteria that can be applied by the person or persons negotiating the fees to be charged for an individual credit rating. The pricing policies should also include any frequency or other fee programmes from which the rated entity or subscriber may benefit in terms of different fees charged for an individual rating or a set of credit ratings. Credit rating agencies should record all instances of where the pricing policies, fee schedules, fee programmes and procedures have not been applied and all instances of deviations from the pricing policy as applied to an individual credit rating, with a clear identification of the credit rating involved. |
| --- | --- |

(4)

Pricing policies and procedures should be reported for each rating type. For reporting purposes and in order to clearly distinguish each pricing policy and procedure and their respective updates, each version of the pricing policies with its respective fee schedules, fee programmes and procedures should have an identification number. For all other purposes, the pricing policies should include the fee structures or fee schedules as well as the pricing criteria that can be applied by the person or persons negotiating the fees to be charged for an individual credit rating. The pricing policies should also include any frequency or other fee programmes from which the rated entity or subscriber may benefit in terms of different fees charged for an individual rating or a set of credit ratings. Credit rating agencies should record all instances of where the pricing policies, fee schedules, fee programmes and procedures have not been applied and all instances of deviations from the pricing policy as applied to an individual credit rating, with a clear identification of the credit rating involved.

| (5) | Registered credit rating agencies that are part of a group should be able to either report their ratings data separately to ESMA or mandate one of the other credit rating agencies within the group to submit the data on behalf of all group members that are subject to the reporting requirements. |
| --- | --- |

(5)

Registered credit rating agencies that are part of a group should be able to either report their ratings data separately to ESMA or mandate one of the other credit rating agencies within the group to submit the data on behalf of all group members that are subject to the reporting requirements.

| (6) | For the purpose of this Regulation, the ‘structuring of a debt issue’ and ‘debt issue’ should include financial instruments or other assets resulting from a securitisation transaction or scheme referred to in Article 4(61) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (2). |
| --- | --- |

(6)

For the purpose of this Regulation, the ‘structuring of a debt issue’ and ‘debt issue’ should include financial instruments or other assets resulting from a securitisation transaction or scheme referred to in Article 4(61) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (2).

| (7) | In order to enable registered credit rating agencies to develop adequate systems and procedures following the technical specifications provided by ESMA and to ensure complete and correct reporting on fees data, registered credit rating agencies should initially report on individual fees data nine months after the entry into force of this Regulation. The initial report should be made in respect of fee data as from the entry into force of this Regulation. Such obligation should not be construed as a discharge from the obligation on registered credit rating agencies to submit periodic information on fees in accordance with Article 11(3) of Regulation (EU) No 1060/2009 in the interim period. |
| --- | --- |

(7)

In order to enable registered credit rating agencies to develop adequate systems and procedures following the technical specifications provided by ESMA and to ensure complete and correct reporting on fees data, registered credit rating agencies should initially report on individual fees data nine months after the entry into force of this Regulation. The initial report should be made in respect of fee data as from the entry into force of this Regulation. Such obligation should not be construed as a discharge from the obligation on registered credit rating agencies to submit periodic information on fees in accordance with Article 11(3) of Regulation (EU) No 1060/2009 in the interim period.

| (8) | Pricing policies and procedures should be provided on an ongoing basis so that any material changes are reported without undue delay after their adoption and at the latest 30 days after their implementation. The information to be reported should be compiled in a standard format to allow ESMA to receive and process the records automatically in its internal systems. Due to technical difficulties and technical progress over time, a number of technical reporting instructions concerning the transmission or the format of the files to be submitted by registered credit rating agencies might have to be updated and communicated by ESMA through specific communications or guidelines. |
| --- | --- |

(8)

Pricing policies and procedures should be provided on an ongoing basis so that any material changes are reported without undue delay after their adoption and at the latest 30 days after their implementation. The information to be reported should be compiled in a standard format to allow ESMA to receive and process the records automatically in its internal systems. Due to technical difficulties and technical progress over time, a number of technical reporting instructions concerning the transmission or the format of the files to be submitted by registered credit rating agencies might have to be updated and communicated by ESMA through specific communications or guidelines.

| (9) | Where a credit rating agency does not comply with its reporting requirements, ESMA should be empowered to request the information by means of a decision issued under Article 23b(3) of Regulation (EC) No 1060/2009, or take other investigatory measures. |
| --- | --- |

(9)

Where a credit rating agency does not comply with its reporting requirements, ESMA should be empowered to request the information by means of a decision issued under Article 23b(3) of Regulation (EC) No 1060/2009, or take other investigatory measures.

| (10) | This Regulation is based on the draft regulatory technical standards submitted by ESMA to the Commission, in accordance with Article 10 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (3). |
| --- | --- |

(10)

This Regulation is based on the draft regulatory technical standards submitted by ESMA to the Commission, in accordance with Article 10 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (3).

| (11) | ESMA has conducted open public consultations on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010, |
| --- | --- |

(11)

ESMA has conducted open public consultations on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010,

HAS ADOPTED THIS REGULATION:

Article 1

General principles

1.   Registered credit rating agencies shall submit the following types of reports to ESMA:

| (a) | pricing policies and procedures as set out in Article 2; |
| --- | --- |

(a)

pricing policies and procedures as set out in Article 2;

| (b) | fee data for credit ratings activities provided under the issuer-pays model as set out in Article 3(1); |
| --- | --- |

(b)

fee data for credit ratings activities provided under the issuer-pays model as set out in Article 3(1);

| (c) | fee data for credit rating activities provided under the subscriber- or investor-pays model as set out in Article 3(2). |
| --- | --- |

(c)

fee data for credit rating activities provided under the subscriber- or investor-pays model as set out in Article 3(2).

2.   Registered credit rating agencies shall ensure the accuracy and completeness of the information and data reported to ESMA.

3.   For groups of credit rating agencies, the members of each group may mandate one member to submit reports required under this Regulation on their behalf. Each credit rating agency on whose behalf such a report is submitted shall be identified in the data submitted to ESMA.

Article 2

Pricing policies and procedures

1.   Registered credit rating agencies shall provide to ESMA their pricing policies, fee structure or fee schedules and pricing criteria in relation to those rated entities or financial instruments on which they are issuing credit ratings and, where applicable, pricing policies regarding ancillary services.

2.   Registered credit rating agencies shall ensure that for each type of credit rating offered the pricing policies contain or are accompanied by the following items:

| (a) | the names of the persons responsible for the approval and maintenance of the pricing policies, fee schedules and/or fee programmes, including those responsible for setting fees, the internal identifier, the function and internal department to which the persons belong; |
| --- | --- |

(a)

the names of the persons responsible for the approval and maintenance of the pricing policies, fee schedules and/or fee programmes, including those responsible for setting fees, the internal identifier, the function and internal department to which the persons belong;

| (b) | any internal guidelines for application of the pricing criteria in the pricing policies, fee schedules and/or fee programmes relating to the setting of individual fees; |
| --- | --- |

(b)

any internal guidelines for application of the pricing criteria in the pricing policies, fee schedules and/or fee programmes relating to the setting of individual fees;

| (c) | a detailed description of the fee range or fee schedule and criteria applicable to the different types of fees, including those provided for in the fee schedules; |
| --- | --- |

(c)

a detailed description of the fee range or fee schedule and criteria applicable to the different types of fees, including those provided for in the fee schedules;

| (d) | a detailed description of any fee programme, including a relationship programme, frequency of use programme, loyalty programme or other programme, and including the criteria of application and fee range, from which individual credit ratings or set of ratings may benefit in fee terms; |
| --- | --- |

(d)

a detailed description of any fee programme, including a relationship programme, frequency of use programme, loyalty programme or other programme, and including the criteria of application and fee range, from which individual credit ratings or set of ratings may benefit in fee terms;

| (e) | where applicable, the pricing principles and rules to be employed whenever there is a relationship or link between the fees charged for credit rating services and ancillary services or any other services provided to the client, within the meaning of the second subparagraph of point 2 of Part II of Section E of Annex I to Regulation (EC) No 1060/2009 (client), by the credit rating agency and/or any of the entities belonging to the credit rating agency’s group within the meaning of Articles 1 and 2 of Council Directive 83/349/EEC (4), as well as any entity linked to the credit rating agency or other company of the credit rating agency’s group by a relationship within the meaning of Article 12(1) of Directive 83/349/EEC; |
| --- | --- |

(e)

where applicable, the pricing principles and rules to be employed whenever there is a relationship or link between the fees charged for credit rating services and ancillary services or any other services provided to the client, within the meaning of the second subparagraph of point 2 of Part II of Section E of Annex I to Regulation (EC) No 1060/2009 (client), by the credit rating agency and/or any of the entities belonging to the credit rating agency’s group within the meaning of Articles 1 and 2 of Council Directive 83/349/EEC (4), as well as any entity linked to the credit rating agency or other company of the credit rating agency’s group by a relationship within the meaning of Article 12(1) of Directive 83/349/EEC;

| (f) | the geographical scope of application of the pricing policy, fee schedule or fee programme in terms of the location of the clients and the credit rating agency or agencies applying the pricing policy, fee schedule or fee programme; |
| --- | --- |

(f)

the geographical scope of application of the pricing policy, fee schedule or fee programme in terms of the location of the clients and the credit rating agency or agencies applying the pricing policy, fee schedule or fee programme;

| (g) | the names of the persons authorised to set fees and other charges under the respective pricing policy, fee schedule or fee programme, including those responsible for setting fees, the internal identifier, the function and internal department to which the persons belong. |
| --- | --- |

(g)

the names of the persons authorised to set fees and other charges under the respective pricing policy, fee schedule or fee programme, including those responsible for setting fees, the internal identifier, the function and internal department to which the persons belong.

3.   Registered credit rating agencies shall ensure that the pricing procedures contain or are accompanied by the following items:

| (a) | the names of the persons responsible for the approval and maintenance of the procedures implementing the pricing policies, including those responsible for setting fees, the internal identifier, the function and internal department to which the persons belong; |
| --- | --- |

(a)

the names of the persons responsible for the approval and maintenance of the procedures implementing the pricing policies, including those responsible for setting fees, the internal identifier, the function and internal department to which the persons belong;

| (b) | a detailed description of the procedures and controls in place to ensure and monitor strict compliance with the pricing policies; |
| --- | --- |

(b)

a detailed description of the procedures and controls in place to ensure and monitor strict compliance with the pricing policies;

| (c) | a detailed description of the procedures in place for the lowering fees or for otherwise departing from the fee schedule or fee programmes; |
| --- | --- |

(c)

a detailed description of the procedures in place for the lowering fees or for otherwise departing from the fee schedule or fee programmes;

| (d) | the names of the persons directly responsible for monitoring the application of the pricing policies to individual fees, including the internal identifier, the function and internal department to which the persons belong; |
| --- | --- |

(d)

the names of the persons directly responsible for monitoring the application of the pricing policies to individual fees, including the internal identifier, the function and internal department to which the persons belong;

| (e) | the names of the persons directly responsible for ensuring compliance of individual fees with pricing policies, including the internal identifier, the function and internal department to which the persons belongs; |
| --- | --- |

(e)

the names of the persons directly responsible for ensuring compliance of individual fees with pricing policies, including the internal identifier, the function and internal department to which the persons belongs;

| (f) | a detailed description of the measures to be adopted in the event of a breach of pricing policies, fee schedules, fee programmes and procedures; |
| --- | --- |

(f)

a detailed description of the measures to be adopted in the event of a breach of pricing policies, fee schedules, fee programmes and procedures;

| (g) | a detailed description of the procedure for reporting to ESMA any material breach of pricing policies or procedures which may result in a breach of point 3c of Section B of Annex I to Regulation (EC) No 1060/2009. |
| --- | --- |

(g)

a detailed description of the procedure for reporting to ESMA any material breach of pricing policies or procedures which may result in a breach of point 3c of Section B of Annex I to Regulation (EC) No 1060/2009.

Article 3

List of fees charged to each client

1.   Registered credit rating agencies providing credit ratings on an issuer-pays model shall provide to ESMA the fees charged to each client for individual credit ratings and any ancillary services per legal entity as well as aggregated by group of companies.

2.   Registered credit rating agencies providing credit ratings on a subscriber- or investor-pays model shall provide to ESMA, on a per client basis, the total fees charged for such services as well as for the ancillary services provided.

3.   All deviations from pricing policies or pricing procedures, or the non-application of a pricing policy, fee schedule or fee programme, or pricing procedure to a rating shall be recorded by the registered credit rating agencies, with a clear identification of the main explanations for the deviation and the individual rating involved in the format set out in Table 1 of Annex II. This record shall be made promptly available to ESMA upon request.

Article 4

Credit rating types

Registered credit rating agencies shall classify the ratings to be reported in accordance with the types defined in Article 3 of Commission Delegated Regulation (EU) 2015/2 (5).

Article 5

Data to be provided

1.   Registered credit rating agencies shall provide to ESMA the items set out in Article 2(2) and (3), and the data set out in Tables 1 to 4 of Annex I, as well as the pricing policies, fee schedules, fee programmes and procedures in separate files.

2.   Registered credit rating agencies shall provide to ESMA the data set out in Tables 1 and 2 of Annex II for fees data on each individual credit rating issued and the fees charged for credit ratings and any ancillary services per client in accordance with Article 3(1).

3.   Registered credit rating agencies that have provided credit ratings on a subscriber or investor-pays model shall provide to ESMA the data set out in Table 1 of Annex III for each client of the credit ratings services provided, in accordance with Article 3(2).

4.   The data specified in Tables 1 to 4 of Annex I, Tables 1 and 2 of Annex II, and Table 1 of Annex III shall be submitted to ESMA in separate files.

Article 6

Initial reporting

1.   Each registered credit rating agency shall provide data to ESMA by filling in Tables 1 to 4 of Annex I and separate files for pricing policies, fee schedules, fee programmes and procedures it is applying for each credit rating type in which it is active, in accordance with Article 5(1), within 30 days after the date of entry into force of this Regulation.

2.   Initial reporting on fees referred to in Article 5(2) and (3) shall be submitted to ESMA nine months after the date of entry into force of this Regulation and shall include the data accumulated from the date of entry into force of this Regulation until 30 June 2015.

3.   The second report on fees referred to in Article 5(2) and (3) shall be submitted to ESMA by 31 March 2016 and shall include the data accumulated from 1 July 2015 until 31 December 2015.

Article 7

Ongoing reporting

1.   Without prejudice to the initial reporting requirements set out in Article 6, the information submitted in accordance with Article 5 shall be submitted on a yearly basis by 31 March and shall include data and pricing policies, fee schedules, fee programmes and procedures relating to the preceding calendar year.

2.   Without prejudice to paragraph 1, material changes to pricing policies, fee schedules, fee programmes and procedures shall be reported to ESMA on an ongoing basis without undue delay after their adoption and at the latest 30 days after their implementation.

3.   Registered credit rating agencies shall notify ESMA immediately of any exceptional circumstances that may temporarily prevent or delay reporting in accordance with this Regulation.

Article 8

Reporting procedures

1.   Registered credit rating agencies shall submit data files in accordance with the technical instructions provided by ESMA and using ESMA’s reporting system.

2.   Registered credit rating agencies shall store the data files sent to and received by ESMA under Article 5 as well as the deviation records referred to in Article 3(3) in electronic form for at least five years. Those files shall be made available to ESMA on request.

3.   Where a registered credit rating agency identifies factual errors in data that have been reported, it shall inform ESMA without undue delay and correct the relevant data according to the technical instructions provided by ESMA.

Article 9

Entry into force

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 30 September 2014.

For the Commission

The President

José Manuel BARROSO

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(1)  OJ L 302, 17.11.2009, p. 1.

1

(2)  Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).

2

(3)  Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).

3

(4)  Seventh Council Directive 83/349/EEC of 13 June 1983 based on the Article 54(3)(g) of the Treaty on consolidated accounts (OJ L 193, 18.7.1983, p. 1).

4

(5)  Commission Delegated Regulation (EU) 2015/2 of 30 September 2014 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards for the presentation of the information that credit rating agencies make available to the European Securities and Markets Authority (see page 24 of this Official Journal).

5

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ANNEX I

Table 1

Reporting of pricing policies per rating class in force and subsequent material updates

| No. | Field name | Description | Type | Standard |
| --- | --- | --- | --- | --- |
| 1 | CRA identifier | Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration. | Mandatory | |
| 2 | CRA scope | Identification of the CRAs applying the pricing policy. | Mandatory | ISO 17442 |
| 3 | Pricing policy identifier | Unique identifier of the pricing policy that shall be maintained. All changes other than the scope of the rating types covered by the pricing policy should maintain the same unique identifier. Changes in the scope require a new pricing policy identifier. | Mandatory | Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’ |
| 4 | Pricing policy validity date | The date from which the pricing policy is valid. | Mandatory | ISO 8601 date format (YYYY-MM-DD) |
| 5 | Pricing policy end date | The end validity date of the pricing policy. | Mandatory | ISO 8601 date dormat (YYYY-MM-DD) or 9999-01-01 |
| 6 | Indication of model | Indication of whether the pricing policy relates to issuer-pays ratings or investor-pays or subscriber-pays model. ESMA understands that CRAs may operate services under more than one model and therefore it is possible that a pricing policy may be used for both types of models. In such cases I and S may both be chosen. | Mandatory | — | ‘I’ for issuer-pays model, and/or |

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration.

Mandatory

2

CRA scope

Identification of the CRAs applying the pricing policy.

Mandatory

ISO 17442

3

Pricing policy identifier

Unique identifier of the pricing policy that shall be maintained. All changes other than the scope of the rating types covered by the pricing policy should maintain the same unique identifier. Changes in the scope require a new pricing policy identifier.

Mandatory

Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’

4

Pricing policy validity date

The date from which the pricing policy is valid.

Mandatory

ISO 8601 date format (YYYY-MM-DD)

5

Pricing policy end date

The end validity date of the pricing policy.

Mandatory

ISO 8601 date dormat (YYYY-MM-DD) or 9999-01-01

6

Indication of model

Indication of whether the pricing policy relates to issuer-pays ratings or investor-pays or subscriber-pays model. ESMA understands that CRAs may operate services under more than one model and therefore it is possible that a pricing policy may be used for both types of models. In such cases I and S may both be chosen.

Mandatory

—

‘I’ for issuer-pays model, and/or

| — | ‘S’ for investor-pays or subscriber-pays model |
| --- | --- |

—

‘S’ for investor-pays or subscriber-pays model

7

Scope of the pricing policy

Description of the type of ratings or ancillary services included or covered by the pricing policy.

Mandatory

Indication whether the pricing policy applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | ‘C’ for corporate ratings (excluding covered bonds), |
| --- | --- |

—

‘C’ for corporate ratings (excluding covered bonds),

| — | ‘S’ for sovereign and public finance ratings, |
| --- | --- |

—

‘S’ for sovereign and public finance ratings,

| — | ‘T’ for structured finance ratings, |
| --- | --- |

—

‘T’ for structured finance ratings,

| — | ‘B’ for covered bond ratings, |
| --- | --- |

—

‘B’ for covered bond ratings,

| — | ‘O’ other types of ratings, |
| --- | --- |

—

‘O’ other types of ratings,

| — | ‘A’ for ancillary services. |
| --- | --- |

—

‘A’ for ancillary services.

8

Industry segment of the pricing policy

When reporting corporate ratings indication whether the pricing policy applies to ratings within one of these industry segments: (i) financial; (ii) insurance; (iii) other corporates.

Mandatory

Applicable only if ‘C’ in field 7 ‘Scope of the pricing policy’

Indication whether the pricing policy applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | FI — for financial institutions including banks, brokers and dealers, |
| --- | --- |

—

FI — for financial institutions including banks, brokers and dealers,

| — | IN — for insurance rating type, |
| --- | --- |

—

IN — for insurance rating type,

| — | CO — for corporate issuers that do not belong to FI or IN classes. |
| --- | --- |

—

CO — for corporate issuers that do not belong to FI or IN classes.

9

Asset class of the pricing policy

When reporting structured finance ratings indication whether the pricing policy applies to ratings within one of these segments: (i) RMBS; (ii) ABS; (iii) CMBS; (iv) CDO; (v) ABCP; (vi) other.

Mandatory

Applicable only if ‘T’ in field 7 ‘Scope of the pricing policy’

Indication whether the pricing policy applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | ‘RMBS’ for RMBS ratings, |
| --- | --- |

—

‘RMBS’ for RMBS ratings,

| — | ‘ABS’ for ABS ratings, |
| --- | --- |

—

‘ABS’ for ABS ratings,

| — | ‘CMBS’ for CMBS ratings, |
| --- | --- |

—

‘CMBS’ for CMBS ratings,

| — | ‘CDO’ for CDO ratings, |
| --- | --- |

—

‘CDO’ for CDO ratings,

| — | ‘ABCP’ for ABCP ratings, |
| --- | --- |

—

‘ABCP’ for ABCP ratings,

| — | ‘OTH’ other. |
| --- | --- |

—

‘OTH’ other.

10

Sector

When reporting sovereign and public finance ratings indication whether the pricing policy applies to ratings within one of these segments: (i) State rating; (ii) regional or local authority rating; (iii) supranational organisations (other than international financial institutions); (iv) public entities; (v) international financial institutions.

Mandatory

Applicable only if ‘S’ in field 7 ‘Scope of the pricing policy’

Indication whether the pricing policy applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | ‘SV’ — State rating, |
| --- | --- |

—

‘SV’ — State rating,

| — | ‘SM’ — regional or local authority rating, |
| --- | --- |

—

‘SM’ — regional or local authority rating,

| — | ‘SO’ — supranational organisations rating other than ‘IF’, |
| --- | --- |

—

‘SO’ — supranational organisations rating other than ‘IF’,

| — | ‘PE’ — public entities rating, |
| --- | --- |

—

‘PE’ — public entities rating,

| — | ‘IF’ — international financial institutions. |
| --- | --- |

—

‘IF’ — international financial institutions.

11

Previous pricing policy

The identification of the prior pricing policy which the current policy replaces.

Mandatory

Applicable if the current pricing policy changes the scope of application of a previous pricing policy

Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’

12

Pricing policy file name

Pricing policy file name. Shall be reported in a zip format

Mandatory

Table 2

Reporting of fee schedules per rating class in force and subsequent material updates

| No. | Field name | Description | Type | Standard |
| --- | --- | --- | --- | --- |
| 1 | CRA identifier | Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration. | Mandatory | |
| 2 | CRA scope | Identification of the CRAs applying the fee schedule. | Mandatory | ISO 17442 |
| 3 | Fee schedule identifier | Unique identifier of the fee schedule that shall be maintained over time. All changes other than the scope of the rating types covered by the fee schedule should maintain the same unique identifier. Changes in the scope require a new fee schedule identifier. | Mandatory | Fee schedule identifier in format ‘FS_[internal fee schedule identifier]’ |
| 4 | Pricing policy identifier | Identification of the pricing policy which the fee schedule is meant to implement. This pricing policy identifier must correspond to the identifier(s) set out under Table 1 of Annex I. | Mandatory | Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’ |
| 5 | Fee schedule validity date | The date from which the fee schedule is valid. | Mandatory | ISO 8601 date format (YYYY-MM-DD) |
| 6 | Fee schedule end date | The end validity date of the fee schedule. | Mandatory | ISO 8601 date format (YYYY-MM-DD) or 9999-01-01 |
| 7 | Indication of model | Indication of whether fee schedule relates to issuer-pays ratings or investor-pays model. | Mandatory | — | ‘I’ for issuer-pays model, |

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration.

Mandatory

2

CRA scope

Identification of the CRAs applying the fee schedule.

Mandatory

ISO 17442

3

Fee schedule identifier

Unique identifier of the fee schedule that shall be maintained over time. All changes other than the scope of the rating types covered by the fee schedule should maintain the same unique identifier. Changes in the scope require a new fee schedule identifier.

Mandatory

Fee schedule identifier in format ‘FS_[internal fee schedule identifier]’

4

Pricing policy identifier

Identification of the pricing policy which the fee schedule is meant to implement. This pricing policy identifier must correspond to the identifier(s) set out under Table 1 of Annex I.

Mandatory

Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’

5

Fee schedule validity date

The date from which the fee schedule is valid.

Mandatory

ISO 8601 date format (YYYY-MM-DD)

6

Fee schedule end date

The end validity date of the fee schedule.

Mandatory

ISO 8601 date format (YYYY-MM-DD) or 9999-01-01

7

Indication of model

Indication of whether fee schedule relates to issuer-pays ratings or investor-pays model.

Mandatory

—

‘I’ for issuer-pays model,

| — | ‘S’ for investor-pays or subscriber-pays model. |
| --- | --- |

—

‘S’ for investor-pays or subscriber-pays model.

8

Rating type scope of the fee schedule

Description of the type of ratings or ancillary services included in the fee schedule.

Mandatory

Indication whether the fee schedule applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | ‘C’ for corporate ratings (excluding covered bonds), |
| --- | --- |

—

‘C’ for corporate ratings (excluding covered bonds),

| — | ‘S’ for sovereign and public finance ratings, |
| --- | --- |

—

‘S’ for sovereign and public finance ratings,

| — | ‘T’ for structured finance ratings, |
| --- | --- |

—

‘T’ for structured finance ratings,

| — | ‘B’ for covered bond ratings, |
| --- | --- |

—

‘B’ for covered bond ratings,

| — | ‘O’ other types of ratings, |
| --- | --- |

—

‘O’ other types of ratings,

| — | ‘A’ for ancillary services. |
| --- | --- |

—

‘A’ for ancillary services.

9

Industry segment of the fee schedule

When reporting corporate ratings indication whether the fee schedule applies to ratings within one of these industry segments: (i) financial; (ii) insurance; (iii) other corporates.

Mandatory.

Applicable only if ‘C’ in field 8 ‘Rating type scope of the fee schedule’

Indication whether the fee schedule applies to one or more of:

| — | ‘All’ |
| --- | --- |

—

‘All’

| — | ‘FI’ — for financial institutions including banks, brokers and dealers, |
| --- | --- |

—

‘FI’ — for financial institutions including banks, brokers and dealers,

| — | ‘IN’ — for insurance rating type, |
| --- | --- |

—

‘IN’ — for insurance rating type,

| — | ‘CO’ — for corporate issuers that do not belong to FI or IN classes. |
| --- | --- |

—

‘CO’ — for corporate issuers that do not belong to FI or IN classes.

10

Asset class of the fee schedule

When reporting structured finance ratings indication whether the fee schedule applies to ratings within one of these segments: (i) RMBS; (ii) ABS; (iii) CMBS; (iv) CDO; (v) ABCP; (vi) other.

Mandatory.

Applicable only if ‘T’ in field 8 ‘Rating type scope of the fee schedules’

Indication whether the fee schedule applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | ‘RMBS’ for RMBS ratings, |
| --- | --- |

—

‘RMBS’ for RMBS ratings,

| — | ‘ABS’ for ABS ratings, |
| --- | --- |

—

‘ABS’ for ABS ratings,

| — | ‘CMBS’ for CMBS ratings, |
| --- | --- |

—

‘CMBS’ for CMBS ratings,

| — | ‘CDO’ for CDO ratings, |
| --- | --- |

—

‘CDO’ for CDO ratings,

| — | ‘ABCP’ for ABCP ratings, |
| --- | --- |

—

‘ABCP’ for ABCP ratings,

| — | ‘OTH’ other. |
| --- | --- |

—

‘OTH’ other.

11

Sector of the fee schedule

When reporting sovereign and public finance ratings indication whether the fee schedule applies to ratings within one of these segments: (i) State rating; (ii) regional or local authority rating; (iii) supranational organisations (other than international financial institutions); (iv) public entities; (v) international financial institutions.

Mandatory.

Applicable only if ‘S’ in field 8 ‘Rating type scope of the fee schedules’

Indication whether the fee schedule applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | SV — State rating, |
| --- | --- |

—

SV — State rating,

| — | SM — regional or local authority rating, |
| --- | --- |

—

SM — regional or local authority rating,

| — | SO — supranational organisations rating other than ‘IF’, |
| --- | --- |

—

SO — supranational organisations rating other than ‘IF’,

| — | PE — public entities rating, |
| --- | --- |

—

PE — public entities rating,

| — | IF — international financial institutions. |
| --- | --- |

—

IF — international financial institutions.

12

Sub-asset of the fee schedule

Defines the sub-asset classes for structured finance ratings.

Mandatory.

Applicable only if ‘T’ in field 8 and ‘Asset class’ = ‘ABS’ or ‘RMBS’ or ‘CDO’ or ‘OTH’.

Indication whether the fee schedule applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | CCS — if ABS: credit card receivable backed securities, |
| --- | --- |

—

CCS — if ABS: credit card receivable backed securities,

| — | ALB — if ABS: auto loan backed securities, |
| --- | --- |

—

ALB — if ABS: auto loan backed securities,

| — | CNS — if ABS: consumer loan backed security |
| --- | --- |

—

CNS — if ABS: consumer loan backed security

| — | SME — if ABS: small and medium-sized enterprises loan backed securities, |
| --- | --- |

—

SME — if ABS: small and medium-sized enterprises loan backed securities,

| — | LES — if ABS: leases to individual or business backed security, |
| --- | --- |

—

LES — if ABS: leases to individual or business backed security,

| — | HEL — if RMBS: home equity loans, |
| --- | --- |

—

HEL — if RMBS: home equity loans,

| — | PRR — if RMBS: prime RMBS, |
| --- | --- |

—

PRR — if RMBS: prime RMBS,

| — | NPR — if RMBS: non-prime RMBS, |
| --- | --- |

—

NPR — if RMBS: non-prime RMBS,

| — | CFH — if CDO: cash flow and hybrid CDOs/CLOs, |
| --- | --- |

—

CFH — if CDO: cash flow and hybrid CDOs/CLOs,

| — | SDO — if CDO: synthetic CDOs/CLOs, |
| --- | --- |

—

SDO — if CDO: synthetic CDOs/CLOs,

| — | MVO — if CDO: Market value CDOs, |
| --- | --- |

—

MVO — if CDO: Market value CDOs,

| — | SIV — if OTH: structured investment vehicles, |
| --- | --- |

—

SIV — if OTH: structured investment vehicles,

| — | ILS — if OTH: insurance-linked securities, |
| --- | --- |

—

ILS — if OTH: insurance-linked securities,

| — | DPC — if OTH: derivative product companies, |
| --- | --- |

—

DPC — if OTH: derivative product companies,

| — | SCB — if OTH: structured covered bonds, |
| --- | --- |

—

SCB — if OTH: structured covered bonds,

| — | OTH — other. |
| --- | --- |

—

OTH — other.

13

Previous fee schedule

The identification of the prior fee schedule which the current fee schedule replaces.

Applicable if the current fee schedule changes the scope of application of a previous fee schedule

Fee schedule identifier in format ‘FS_[internal fee schedule identifier]’

14

Fee schedule file name

Fee schedule file name. Shall be reported in a zip format

Mandatory

Table 3

Reporting of fee programmes per rating class in force and subsequent material updates

| No. | Field name | Description | Type | Standard |
| --- | --- | --- | --- | --- |
| 1 | CRA identifier | Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration. | Mandatory | |
| 2 | CRA scope | Identification of the CRAs applying the fee programme. | Mandatory | ISO 17442 |
| 3 | Fee programme identifier | Unique identifier of the fee programme that shall be maintained over time. All changes other than the scope of the rating types or type of programme covered by the fee programme should maintain the same unique identifier. Changes in the scope require a new fee programme identifier. | Mandatory | Fee programme identifier in format ‘FP_[internal fee programme identifier]’ |
| 4 | Pricing policy identifier | Identification of the pricing policy which the fee programme is meant to implement. This pricing policy identifier must correspond to the identifier(s) set out under Table 1 of Annex I. | Mandatory | Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’ |
| 5 | Fee programme validity date | The date from which the fee programme is valid. | Mandatory | ISO 8601 date format (YYYY-MM-DD) |
| 6 | Fee programme end date | The end validity date of the fee programme. | Mandatory | — | ISO 8601 date format (YYYY-MM-DD) or 9999-01-01 |

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration.

Mandatory

2

CRA scope

Identification of the CRAs applying the fee programme.

Mandatory

ISO 17442

3

Fee programme identifier

Unique identifier of the fee programme that shall be maintained over time. All changes other than the scope of the rating types or type of programme covered by the fee programme should maintain the same unique identifier. Changes in the scope require a new fee programme identifier.

Mandatory

Fee programme identifier in format ‘FP_[internal fee programme identifier]’

4

Pricing policy identifier

Identification of the pricing policy which the fee programme is meant to implement. This pricing policy identifier must correspond to the identifier(s) set out under Table 1 of Annex I.

Mandatory

Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’

5

Fee programme validity date

The date from which the fee programme is valid.

Mandatory

ISO 8601 date format (YYYY-MM-DD)

6

Fee programme end date

The end validity date of the fee programme.

Mandatory

—

ISO 8601 date format (YYYY-MM-DD) or 9999-01-01

7

Indication of model

Indication of whether fee programme relates to issuer-pays ratings or investor-pays or subscriber-pays model.

Mandatory

| — | ‘I’ for issuer-pays model, and/or |
| --- | --- |

—

‘I’ for issuer-pays model, and/or

| — | ‘S’ for investor-pays or subscriber-pays model. |
| --- | --- |

—

‘S’ for investor-pays or subscriber-pays model.

8

Rating type scope of the fee programme

Description of the type of ratings or ancillary services included in the fee programme.

Mandatory

Indication whether the fee programme applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | ‘C’ for corporate ratings (excluding covered bonds), |
| --- | --- |

—

‘C’ for corporate ratings (excluding covered bonds),

| — | ‘S’ for sovereign and public finance ratings, |
| --- | --- |

—

‘S’ for sovereign and public finance ratings,

| — | ‘T’ for structured finance ratings, |
| --- | --- |

—

‘T’ for structured finance ratings,

| — | ‘B’ for covered bond ratings, |
| --- | --- |

—

‘B’ for covered bond ratings,

| — | ‘O’ other types of ratings, |
| --- | --- |

—

‘O’ other types of ratings,

| — | ‘A’ for ancillary services. |
| --- | --- |

—

‘A’ for ancillary services.

9

Industry segment of the fee programme

When reporting corporate ratings indication whether the fee programme applies to ratings within one of these industry segments: (i) financial; (ii) insurance; (iii) other corporates.

Mandatory

Applicable only if ‘C’ in field 8 ‘Scope of the fee programme’

Indication whether the fee programme applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | FI — for financial institutions including banks, brokers and dealers, |
| --- | --- |

—

FI — for financial institutions including banks, brokers and dealers,

| — | IN — for insurance rating type, |
| --- | --- |

—

IN — for insurance rating type,

| — | CO — for corporate issuers that do not belong to FI or IN classes. |
| --- | --- |

—

CO — for corporate issuers that do not belong to FI or IN classes.

10

Asset class of the fee programme

When reporting structured finance ratings indication whether the fee programme applies to ratings within one of these segments: (i) RMBS; (ii) ABS; (iii) CMBS; (iv) CDO; (v) ABCP; (vi) other.

Mandatory

Applicable only if ‘T’ in field 8 ‘Rating scope of the fee programme’

Indication whether the fee programme applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | ‘RMBS’ for RMBS ratings, |
| --- | --- |

—

‘RMBS’ for RMBS ratings,

| — | ‘ABS’ for ABS ratings, |
| --- | --- |

—

‘ABS’ for ABS ratings,

| — | ‘CMBS’ for CMBS ratings, |
| --- | --- |

—

‘CMBS’ for CMBS ratings,

| — | ‘CDO’ for CDO ratings, |
| --- | --- |

—

‘CDO’ for CDO ratings,

| — | ‘ABCP’ for ABCP ratings, |
| --- | --- |

—

‘ABCP’ for ABCP ratings,

| — | ‘OTH’ other. |
| --- | --- |

—

‘OTH’ other.

11

Sector of the fee programme

When reporting sovereign and public finance ratings indication whether the fee programme applies to ratings within one of these segments: (i) State rating; (ii) regional or local authority rating; (iii) supranational organisations (other than international financial institutions); (iv) public entities; (v) international financial institutions.

Mandatory

Applicable only if ‘S’ in field 8 ‘Rating type scope of the fee programme’

Indication whether the fee programme applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | SV — State rating, |
| --- | --- |

—

SV — State rating,

| — | SM — regional or local authority rating, |
| --- | --- |

—

SM — regional or local authority rating,

| — | SO — supranational organisations rating other than ‘IF’, |
| --- | --- |

—

SO — supranational organisations rating other than ‘IF’,

| — | PE — public entities rating, |
| --- | --- |

—

PE — public entities rating,

| — | IF — international financial institutions |
| --- | --- |

—

IF — international financial institutions

12

Sub-asset of the fee programme

Defines the sub-asset classes for structured finance ratings.

Mandatory.

Applicable only if ‘T’ in field 8 and ‘Asset class’ = ‘ABS’ or ‘RMBS’ or ‘CDO’ or ‘OTH’.

Indication whether the fee programme applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | CCS — if ABS: credit card receivable backed securities, |
| --- | --- |

—

CCS — if ABS: credit card receivable backed securities,

| — | ALB — if ABS: auto loan backed securities, |
| --- | --- |

—

ALB — if ABS: auto loan backed securities,

| — | CNS — if ABS: Consumer loan backed security, |
| --- | --- |

—

CNS — if ABS: Consumer loan backed security,

| — | SME — if ABS: small and medium-sized enterprises loan backed securities, |
| --- | --- |

—

SME — if ABS: small and medium-sized enterprises loan backed securities,

| — | LES — if ABS: leases to individual or business backed security, |
| --- | --- |

—

LES — if ABS: leases to individual or business backed security,

| — | HEL — if RMBS: home equity loans, |
| --- | --- |

—

HEL — if RMBS: home equity loans,

| — | PRR — if RMBS: prime RMBS |
| --- | --- |

—

PRR — if RMBS: prime RMBS

| — | NPR — if RMBS: non-prime RMBS, |
| --- | --- |

—

NPR — if RMBS: non-prime RMBS,

| — | CFH — if CDO: cash flow and hybrid CDOs/CLOs, |
| --- | --- |

—

CFH — if CDO: cash flow and hybrid CDOs/CLOs,

| — | SDO — if CDO: synthetic CDOs/CLOs, |
| --- | --- |

—

SDO — if CDO: synthetic CDOs/CLOs,

| — | MVO — if CDO: market value CDOs, |
| --- | --- |

—

MVO — if CDO: market value CDOs,

| — | SIV — if OTH: structured investment vehicles, |
| --- | --- |

—

SIV — if OTH: structured investment vehicles,

| — | ILS — if OTH: insurance-linked securities, |
| --- | --- |

—

ILS — if OTH: insurance-linked securities,

| — | DPC — if OTH: derivative product companies, |
| --- | --- |

—

DPC — if OTH: derivative product companies,

| — | SCB — if OTH: structured covered bonds, |
| --- | --- |

—

SCB — if OTH: structured covered bonds,

| — | OTH — other. |
| --- | --- |

—

OTH — other.

13

Type of programme included

Description of the type of programme included in the fee programme, such as whether it relates to and/or includes a frequency of use programme, loyalty programme, multi-issuance programmes, purchase of a package of credit ratings or other types of programmes.

Indication whether the fee programme applies to one or more of:

| — | ‘All’, |
| --- | --- |

—

‘All’,

| — | ‘F’ frequency of use, |
| --- | --- |

—

‘F’ frequency of use,

| — | ‘L’ loyalty programme, |
| --- | --- |

—

‘L’ loyalty programme,

| — | ‘M’ multi-issuance programmes, |
| --- | --- |

—

‘M’ multi-issuance programmes,

| — | ‘B’ for package purchase of a preset number of credit ratings, |
| --- | --- |

—

‘B’ for package purchase of a preset number of credit ratings,

| — | ‘OTH’ other types of fee programme. |
| --- | --- |

—

‘OTH’ other types of fee programme.

14

Previous fee programme

The identification of the prior fee programme which the current fee programme replaces.

Mandatory

Applicable if the current fee programme changes the scope of application of a previous fee programme.

Fee programme identifier in format ‘FP_[internal fee programme identifier]’

15

Fee schedule(s)

Unique identification number of any fee schedule(s) applicable or linked to the fee programme. This fee schedule identifier must correspond to the identifier(s) set out under Table 2 of Annex I.

Mandatory

if applicable

Fee schedule identifier in format ‘FS_[internal fee schedule identifier]’

16

Fee programme file name

Fee programme policy file name. Shall be reported in a zip format

Mandatory

Table 4

Reporting of pricing procedures in force and subsequent material updates

| No. | Field name | Description | Type | Standard |
| --- | --- | --- | --- | --- |
| 1 | CRA identifier | Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration. | Mandatory. | |
| 2 | CRA scope | Identification of the CRAs applying the pricing procedure. | Mandatory. | ISO 17442 |
| 3 | Procedure identifier | Unique identifier of the pricing procedure that shall be maintained over time. | Mandatory. | |
| 4 | Pricing policy identifier | Identification of the pricing policy or policies which the pricing procedure is meant to implement. This pricing policy identifier must correspond to the identifier(s) set out under Table 2 of Annex I. | Mandatory. | Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’ |
| 5 | Fee schedule identifier | Identification of the schedule(s) which the pricing procedure is meant to implement. This fee schedule identifier must correspond to the identifier(s) set out under Table 2 of Annex I. | Mandatory.
  If applicable. | Fee schedule identifier in format ‘FS_[internal fee schedule identifier]’ |
| 6 | Fee programme identifier | Identification of the fee programme(s) which the pricing procedure is meant to implement. This fee programme identifier must correspond to the identifier(s) set out under Table 3 of Annex I. | Mandatory.
  If applicable. | Fee programme identifier in format ‘FP_[internal fee programme identifier]’ |
| 7 | Pricing procedure validity date | The date from which the pricing procedure is valid. | Mandatory. | ISO 8601 date format (YYYY-MM-DD) |
| 8 | Pricing procedure end date | End date of validity of the pricing procedure | Mandatory. | ISO 8601 date format (YYYY-MM-DD) or 9999-01-01 |
| 9 | Pricing procedure file name | Pricing procedure file name. Shall be reported in a zip format | Mandatory. | |

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration.

Mandatory.

2

CRA scope

Identification of the CRAs applying the pricing procedure.

Mandatory.

ISO 17442

3

Procedure identifier

Unique identifier of the pricing procedure that shall be maintained over time.

Mandatory.

4

Pricing policy identifier

Identification of the pricing policy or policies which the pricing procedure is meant to implement. This pricing policy identifier must correspond to the identifier(s) set out under Table 2 of Annex I.

Mandatory.

Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’

5

Fee schedule identifier

Identification of the schedule(s) which the pricing procedure is meant to implement. This fee schedule identifier must correspond to the identifier(s) set out under Table 2 of Annex I.

Mandatory.

If applicable.

Fee schedule identifier in format ‘FS_[internal fee schedule identifier]’

6

Fee programme identifier

Identification of the fee programme(s) which the pricing procedure is meant to implement. This fee programme identifier must correspond to the identifier(s) set out under Table 3 of Annex I.

Mandatory.

If applicable.

Fee programme identifier in format ‘FP_[internal fee programme identifier]’

7

Pricing procedure validity date

The date from which the pricing procedure is valid.

Mandatory.

ISO 8601 date format (YYYY-MM-DD)

8

Pricing procedure end date

End date of validity of the pricing procedure

Mandatory.

ISO 8601 date format (YYYY-MM-DD) or 9999-01-01

9

Pricing procedure file name

Pricing procedure file name. Shall be reported in a zip format

Mandatory.

---

ANNEX II

Table 1

Data to be reported to ESMA for each individual credit rating assigned under the issuer-pays model

| No. | Field name | Description | Type | Standard |
| --- | --- | --- | --- | --- |
| 1 | CRA identifier | Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration. | Mandatory. | |
| 2 | Reporting year | The calendar year to which the reporting period refers. | Mandatory. | Format: YYYY |
| 3 | Rating identifier | Unique identifier of the rating. It shall be maintained unchanged over time and correspond to identifier reported under Delegated Regulation (EU) 2015/2. | Mandatory. | — |
| 4 | Contract rating start date | Date of the initial contract for the rating service. Typically would correspond to the date on which the fees for the credit rating service are set. | Mandatory. | ISO 8601 extended date time format: YYYY-MM-DD |
| 5 | Fee schedule used | Unique identifier of the fee schedule under which the fees were set. This fee schedule identifier must correspond to the identifier(s) set out under Table 2 of Annex I. Where no fee schedule has been used to set the price, then the pricing policy identifier must be used. This pricing policy identifier must correspond to the identifier(s) set out under Table 1 of Annex I.
  If neither a pricing policy or fee schedule has been applied then ‘N’ should be used. | Mandatory. | Fee schedule in format ‘FS_[internal fee schedule identifier]’ or pricing policy identifier in format ‘PP_[internal pricing policy identifier]’
  ‘N’ Non-applied |
| 6 | Person(s) responsible for pricing | Internal identifier assigned by the CRA to the person(s) responsible for setting the fees relating to the rating, either by applying the applicable fee schedule and/or fee programme or the person approving exceptions or discounts to the fee schedule and/or fee programme. | Mandatory. | The internal identifier of the person responsible |
| 7 | Client Identifier | Unique code assigned by the CRA to identify the Client. Typically this should correspond to the issuer of the instrument or entity, however in no cases shall it be an SPV. For Structured Finance instruments the unique code should identify the originator or other entity that from an economic point of view (e.g. arranger), directly or indirectly via an SPV or SIV, effectively negotiates the fees with the credit rating agency.
This shall correspond to one Client Identifier identified in Table 2 of Annex II. | Mandatory. | |
| 8 | Indication of whether the individual rating benefited from fee exemption or reduction | Certain credit ratings might not pay an individual direct fee/or might benefit from a reduction as the Client might have paid for a set of ratings, an annual (or other set period) nominal issuance amount, flat fee or be part of a ‘package’ of ratings (‘Group Fee’). This field identifies whether the individual rating is covered by such an arrangement with the Client. | Mandatory. | — | ‘C’ — covered by Group Fee arrangement, |

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration.

Mandatory.

2

Reporting year

The calendar year to which the reporting period refers.

Mandatory.

Format: YYYY

3

Rating identifier

Unique identifier of the rating. It shall be maintained unchanged over time and correspond to identifier reported under Delegated Regulation (EU) 2015/2.

Mandatory.

—

4

Contract rating start date

Date of the initial contract for the rating service. Typically would correspond to the date on which the fees for the credit rating service are set.

Mandatory.

ISO 8601 extended date time format: YYYY-MM-DD

5

Fee schedule used

Unique identifier of the fee schedule under which the fees were set. This fee schedule identifier must correspond to the identifier(s) set out under Table 2 of Annex I. Where no fee schedule has been used to set the price, then the pricing policy identifier must be used. This pricing policy identifier must correspond to the identifier(s) set out under Table 1 of Annex I.

If neither a pricing policy or fee schedule has been applied then ‘N’ should be used.

Mandatory.

Fee schedule in format ‘FS_[internal fee schedule identifier]’ or pricing policy identifier in format ‘PP_[internal pricing policy identifier]’

‘N’ Non-applied

6

Person(s) responsible for pricing

Internal identifier assigned by the CRA to the person(s) responsible for setting the fees relating to the rating, either by applying the applicable fee schedule and/or fee programme or the person approving exceptions or discounts to the fee schedule and/or fee programme.

Mandatory.

The internal identifier of the person responsible

7

Client Identifier

Unique code assigned by the CRA to identify the Client. Typically this should correspond to the issuer of the instrument or entity, however in no cases shall it be an SPV. For Structured Finance instruments the unique code should identify the originator or other entity that from an economic point of view (e.g. arranger), directly or indirectly via an SPV or SIV, effectively negotiates the fees with the credit rating agency.
This shall correspond to one Client Identifier identified in Table 2 of Annex II.

Mandatory.

8

Indication of whether the individual rating benefited from fee exemption or reduction

Certain credit ratings might not pay an individual direct fee/or might benefit from a reduction as the Client might have paid for a set of ratings, an annual (or other set period) nominal issuance amount, flat fee or be part of a ‘package’ of ratings (‘Group Fee’). This field identifies whether the individual rating is covered by such an arrangement with the Client.

Mandatory.

—

‘C’ — covered by Group Fee arrangement,

| — | ‘N’ not covered by Group Fee arrangement. |
| --- | --- |

—

‘N’ not covered by Group Fee arrangement.

9

Total amount of fees charged

Identifies the total amount of fees billed for the rating during the prior calendar reporting year. Where no fee was paid for the individual credit rating the amount should be 0 for all but one of the ratings benefitting from the Group Fee.

Mandatory.

Amount in EUR

10

Amount of initial fees paid

Identifies the amount of up-front/initial fees billed during the prior calendar reporting year.

Mandatory.

Amount in EUR

11

Surveillance fees paid

Identifies the annual surveillance/monitoring fees billed in prior calendar year.

Mandatory.

Amount in EUR

12

Other fees charged for rating service

Identifies total of other fees or compensation billed in prior calendar year.

If applicable.

Amount in EUR

13

Description of other fees

Indication of whether the fees billed included any consideration or fees for a rapid turnaround request by the Client for the rating service.

Mandatory.

Applicable if ‘Other fees charged’ was filled in response to field ‘Other fees charged for rating service’ (field 12).

| — | ‘Y’ — where rapidity fee applied, |
| --- | --- |

—

‘Y’ — where rapidity fee applied,

| — | ‘N’ — where no rapidity fee applied. |
| --- | --- |

—

‘N’ — where no rapidity fee applied.

14

Negotiation links with other ratings

Identifies whether the rating fee negotiations was linked to other existing ratings of the Client and that led to variations in the final fees applied and paid for by the Client. This would include credit rating services provided in relation to vehicles set up to facilitate issuance, such as an MTN programme.

Mandatory.

| — | ‘Y’ for Yes, |
| --- | --- |

—

‘Y’ for Yes,

| — | ‘N’ for No. |
| --- | --- |

—

‘N’ for No.

15

Identification of the linked rating(s)

Unique identifier of the rating(s) linked to the rating being reported (e.g., in the case of structured finance a master trust structure and its series)

Mandatory.

Applicable if ‘Y’ was filled in response to field 14.

| — | List of identifiers |
| --- | --- |

—

List of identifiers

16

Fee programme

Indication of whether the Client benefits in lower individual fees from a frequency or other fee programme.

Mandatory.

| — | ‘Y’ for Yes, |
| --- | --- |

—

‘Y’ for Yes,

| — | ‘N’ for No. |
| --- | --- |

—

‘N’ for No.

17

Identification of fee programme

Identification of the fee programme under which the rating is priced. Should identify the fee programme which must match with the identifier set out in the applicable fee programme set out under Table 3 of Annex I.

Mandatory if ‘Y’ was reported in field 16.

| — | Fee programme identifier in format ‘FP_[internal fee programme identifier]’ |
| --- | --- |

—

Fee programme identifier in format ‘FP_[internal fee programme identifier]’

Table 2

Data to be provided to ESMA for fees received on a per client basis for rating services and ancillary services

| No. | Field name | Description | Type | Standard |
| --- | --- | --- | --- | --- |
| 1 | CRA identifier | Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration. | Mandatory. | |
| 2 | Client identifier | Unique code assigned by the CRA to identify the Client. Clients may be issuers, rated entities and/or originators, and/or include entities that from an economic point of view, directly or indirectly via an SPV or SIV, negotiates the fees with the credit rating agency in the context of credit rating arrangements. For clarification purposes it should be noted that in no instances shall a Client be an SPV or SIV.
The Client shall retain the same unique identifier in all these cases. | Mandatory. | |
| 3 | Legal entities | List of legal entities that are included in the Client Identifier field. | Mandatory. | List of names of legal entities |
| 4 | Total overall fees billed | Total fees billed from the Client in the prior calendar year for issuer-pays rating services. | Mandatory. | Amount in EUR |
| 5 | Client ratings | Identifies how many credit ratings the Client has with the credit rating agency at 31 December of the prior calendar year. | Mandatory. | Number of ratings |
| 6 | Total fees for programmes | Total fees billed from the Client in the prior calendar year for rating services not derived from an individual rating but from a frequency issuance, relationship or other type of flat fee programme and excess issuance fees, which may cover one or more ratings. | Mandatory. | Amount in EUR |
| 7 | Identification of ratings | Identification of ratings issued under or covered by fees programmes in the prior calendar year. | Mandatory. | List of ratings identifier |
| 8 | Fees received for ancillary services | Total fees billed by the CRA group of companies from the Client for ancillary services in the previous calendar year. | Mandatory. | Amount in EUR |
| 9 | Main ancillary services | Identification of the three main services provided by the CRA group to the Client in the prior calendar year, in revenue terms. | Mandatory. If more than 0 answered to field 8 ‘fees received for ancillary services’. | List of ancillary services |
| 10 | Ranking of ancillary services | Ranking of the ancillary services for the top three main services identified in field 9 ‘main ancillary services’, in revenue terms. | Mandatory. If more than 0 answered to field 8 ‘fees received for ancillary services’ | Ranking of ancillary services |
| 11 | Other services | Indication of whether account was taken for the setting of fees for the credit rating services provided to the Client of any services provided by any entities belonging to the credit rating agency’s group within the meaning of Articles 1 and 2 of Directive 83/349/EEC as well as any entity linked to the credit rating agency or other company of the credit rating agency’s group by a relationship within the meaning of Article 12(1) of Directive 83/349/EEC. | Mandatory. | — | ‘Y’ for Yes, |

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration.

Mandatory.

2

Client identifier

Unique code assigned by the CRA to identify the Client. Clients may be issuers, rated entities and/or originators, and/or include entities that from an economic point of view, directly or indirectly via an SPV or SIV, negotiates the fees with the credit rating agency in the context of credit rating arrangements. For clarification purposes it should be noted that in no instances shall a Client be an SPV or SIV.
The Client shall retain the same unique identifier in all these cases.

Mandatory.

3

Legal entities

List of legal entities that are included in the Client Identifier field.

Mandatory.

List of names of legal entities

4

Total overall fees billed

Total fees billed from the Client in the prior calendar year for issuer-pays rating services.

Mandatory.

Amount in EUR

5

Client ratings

Identifies how many credit ratings the Client has with the credit rating agency at 31 December of the prior calendar year.

Mandatory.

Number of ratings

6

Total fees for programmes

Total fees billed from the Client in the prior calendar year for rating services not derived from an individual rating but from a frequency issuance, relationship or other type of flat fee programme and excess issuance fees, which may cover one or more ratings.

Mandatory.

Amount in EUR

7

Identification of ratings

Identification of ratings issued under or covered by fees programmes in the prior calendar year.

Mandatory.

List of ratings identifier

8

Fees received for ancillary services

Total fees billed by the CRA group of companies from the Client for ancillary services in the previous calendar year.

Mandatory.

Amount in EUR

9

Main ancillary services

Identification of the three main services provided by the CRA group to the Client in the prior calendar year, in revenue terms.

Mandatory. If more than 0 answered to field 8 ‘fees received for ancillary services’.

List of ancillary services

10

Ranking of ancillary services

Ranking of the ancillary services for the top three main services identified in field 9 ‘main ancillary services’, in revenue terms.

Mandatory. If more than 0 answered to field 8 ‘fees received for ancillary services’

Ranking of ancillary services

11

Other services

Indication of whether account was taken for the setting of fees for the credit rating services provided to the Client of any services provided by any entities belonging to the credit rating agency’s group within the meaning of Articles 1 and 2 of Directive 83/349/EEC as well as any entity linked to the credit rating agency or other company of the credit rating agency’s group by a relationship within the meaning of Article 12(1) of Directive 83/349/EEC.

Mandatory.

—

‘Y’ for Yes,

| — | ‘N’ for No. |
| --- | --- |

—

‘N’ for No.

---

ANNEX III

Table 1

Data to be provided to ESMA for fees received for subscription or investor-pays based rating services

This is to be provided on a per client basis for:

| (i) | the top 100 Clients in revenue terms for this type of credit rating service; |
| --- | --- |

(i)

the top 100 Clients in revenue terms for this type of credit rating service;

| (ii) | as well as all other Clients who are subscribers or pay for ratings as an investor and are also rated by the credit rating agency group. |
| --- | --- |

(ii)

as well as all other Clients who are subscribers or pay for ratings as an investor and are also rated by the credit rating agency group.

| No. | Field name | Description | Type | Standard |
| --- | --- | --- | --- | --- |
| 1 | CRA identifier | Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration. | Mandatory. | |
| 2 | Client identifier | Code used internally by the system to identify the client who is paying, being invoiced or otherwise negotiating rates with the credit rating agency to receive the credit rating service. | Mandatory. | |
| 3 | Fees per client | Total fees billed from the Client for subscription based rating services provided in prior calendar year. | Mandatory. | Amount in EUR |
| 4 | Identification of pricing policy | Identification of the pricing policy under which the CRA charged its Client. The pricing policy identifier must match with the identifier set out in the applicable pricing policy set out under Table 1 of Annex I to this RTS. | Mandatory.
  If applicable. | Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’ |
| 5 | Identification of fee schedule | Identification of the three main fee schedules under which the CRA charged its Client. The fee schedule identifier must match with the identifier set out in the applicable fee schedule part of the pricing policy set out under Table 3 of Annex I to this RTS. | Mandatory.
  If applicable. | Fee schedule identifier in format ‘FS_[internal fee schedule identifier]’ |
| 6 | Identification of fee programme | Identification of the three main fee programmes under which the CRA charged its Client. The fee programme identifier must match with the identifier set out in the applicable fee programme part of the pricing policy set out under Table 4 of Annex I to this RTS. | Mandatory.
  If applicable. | Fee programme identifier in format ‘FP_[internal fee programme identifier]’ |
| 7 | Issuer or rated entity | Indication of whether the Client is also an issuer, rated entity, or otherwise a Client under Table 2 of Annex II. | Mandatory. | — | ‘Y’ for Yes, |

No.

Field name

Description

Type

Standard

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration.

Mandatory.

2

Client identifier

Code used internally by the system to identify the client who is paying, being invoiced or otherwise negotiating rates with the credit rating agency to receive the credit rating service.

Mandatory.

3

Fees per client

Total fees billed from the Client for subscription based rating services provided in prior calendar year.

Mandatory.

Amount in EUR

4

Identification of pricing policy

Identification of the pricing policy under which the CRA charged its Client. The pricing policy identifier must match with the identifier set out in the applicable pricing policy set out under Table 1 of Annex I to this RTS.

Mandatory.

If applicable.

Pricing policy identifier in format ‘PP_[internal pricing policy identifier]’

5

Identification of fee schedule

Identification of the three main fee schedules under which the CRA charged its Client. The fee schedule identifier must match with the identifier set out in the applicable fee schedule part of the pricing policy set out under Table 3 of Annex I to this RTS.

Mandatory.

If applicable.

Fee schedule identifier in format ‘FS_[internal fee schedule identifier]’

6

Identification of fee programme

Identification of the three main fee programmes under which the CRA charged its Client. The fee programme identifier must match with the identifier set out in the applicable fee programme part of the pricing policy set out under Table 4 of Annex I to this RTS.

Mandatory.

If applicable.

Fee programme identifier in format ‘FP_[internal fee programme identifier]’

7

Issuer or rated entity

Indication of whether the Client is also an issuer, rated entity, or otherwise a Client under Table 2 of Annex II.

Mandatory.

—

‘Y’ for Yes,

| — | ‘N’ for No. |
| --- | --- |

—

‘N’ for No.

8

Top client indication

Indication of whether the Client was one of top 100 subscription clients in revenue terms in the prior calendar year.

Mandatory.

| — | ‘Y’ for Yes, |
| --- | --- |

—

‘Y’ for Yes,

| — | ‘N’ for No. |
| --- | --- |

—

‘N’ for No.

9

Fees received for ancillary services

Total fees billed by the CRA group of companies from the client for ancillary services in the prior calendar year.

Mandatory.

Amount in EUR

---

| 6.1.2015 | EN | Official Journal of the European Union | L 2/24 |
| --- | --- | --- | --- |

6.1.2015

EN

Official Journal of the European Union

L 2/24

---

COMMISSION DELEGATED REGULATION (EU) 2015/2

of 30 September 2014

supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards for the presentation of the information that credit rating agencies make available to the European Securities and Markets Authority

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (1), and in particular the third subparagraph of Article 21(4) and the third subparagraph of Article 21(4a) thereof,

Whereas:

| (1) | Article 11a(1) of Regulation (EC) No 1060/2009 requires registered and certified credit rating agencies, when issuing a credit rating or a rating outlook, to submit rating information to the European Securities and Markets Authority (ESMA). The requirement does not apply to ratings exclusively produced for and disclosed to investors for a fee. ESMA is required to publish the rating information submitted by the credit rating agencies on a public website called the European rating platform (ERP). Therefore, rules should be laid down regarding the content and the presentation of the information that credit rating agencies should make available to ESMA for the ERP. |
| --- | --- |

(1)

Article 11a(1) of Regulation (EC) No 1060/2009 requires registered and certified credit rating agencies, when issuing a credit rating or a rating outlook, to submit rating information to the European Securities and Markets Authority (ESMA). The requirement does not apply to ratings exclusively produced for and disclosed to investors for a fee. ESMA is required to publish the rating information submitted by the credit rating agencies on a public website called the European rating platform (ERP). Therefore, rules should be laid down regarding the content and the presentation of the information that credit rating agencies should make available to ESMA for the ERP.

| (2) | In addition, Article 11(2) and Article 21(4)(e) of Regulation (EC) No 1060/2009 require credit rating agencies to submit information to ESMA on their historical performance data and for the purposes of ongoing supervision. The content and presentation of that information is laid down in Commission Delegated Regulation (EU) No 448/2012 (2) and Commission Delegated Regulation (EU) No 446/2012 (3), respectively. In order to allow for more efficient data processing by ESMA and simplification of data reporting for registered and certified credit rating agencies, integrated reporting requirements should be laid down for all the data that registered and certified credit rating agencies should report to ESMA. Therefore, this Regulation lays down rules regarding the data to be reported for the purpose of the ERP, the information to be made available on historical performance in the central repository established by ESMA, and the information that credit rating agencies should periodically report to ESMA for the purposes of ongoing supervision of credit rating agencies. This Regulation therefore repeals Delegated Regulation (EU) No 448/2012 and Delegated Regulation (EU) No 446/2012. ESMA should integrate all data reported by credit rating agencies for the ERP, the central repository and ongoing supervision of credit rating agencies into one ESMA database. |
| --- | --- |

(2)

In addition, Article 11(2) and Article 21(4)(e) of Regulation (EC) No 1060/2009 require credit rating agencies to submit information to ESMA on their historical performance data and for the purposes of ongoing supervision. The content and presentation of that information is laid down in Commission Delegated Regulation (EU) No 448/2012 (2) and Commission Delegated Regulation (EU) No 446/2012 (3), respectively. In order to allow for more efficient data processing by ESMA and simplification of data reporting for registered and certified credit rating agencies, integrated reporting requirements should be laid down for all the data that registered and certified credit rating agencies should report to ESMA. Therefore, this Regulation lays down rules regarding the data to be reported for the purpose of the ERP, the information to be made available on historical performance in the central repository established by ESMA, and the information that credit rating agencies should periodically report to ESMA for the purposes of ongoing supervision of credit rating agencies. This Regulation therefore repeals Delegated Regulation (EU) No 448/2012 and Delegated Regulation (EU) No 446/2012. ESMA should integrate all data reported by credit rating agencies for the ERP, the central repository and ongoing supervision of credit rating agencies into one ESMA database.

| (3) | In order to ensure that the ERP provides up-to-date information on rating actions that are not exclusively disclosed to investors for a fee, it is necessary to describe the data to be reported, including the rating and outlook of the rated instrument or entity, the press releases accompanying rating actions, reports accompanying sovereign rating actions, type of rating action and date and hour of publication. Press releases, in particular, provide information on the key elements underlying the rating decision. The ERP provides rating users with a central access point to up-to-date rating information and lowers information costs by allowing for a global view of the different ratings issued on each rated entity or instrument. |
| --- | --- |

(3)

In order to ensure that the ERP provides up-to-date information on rating actions that are not exclusively disclosed to investors for a fee, it is necessary to describe the data to be reported, including the rating and outlook of the rated instrument or entity, the press releases accompanying rating actions, reports accompanying sovereign rating actions, type of rating action and date and hour of publication. Press releases, in particular, provide information on the key elements underlying the rating decision. The ERP provides rating users with a central access point to up-to-date rating information and lowers information costs by allowing for a global view of the different ratings issued on each rated entity or instrument.

| (4) | In order to ensure a global view of all ratings assigned by different credit rating agencies on the same rated entity or instrument, credit rating agencies should use common identifiers for the rated entity and the rated instrument when reporting the rating data to ESMA. Therefore, for the identification of rated entities, issuers, originators and credit rating agencies, the only method of global unique identification should be the Global Legal Entity Identifier (LEI). |
| --- | --- |

(4)

In order to ensure a global view of all ratings assigned by different credit rating agencies on the same rated entity or instrument, credit rating agencies should use common identifiers for the rated entity and the rated instrument when reporting the rating data to ESMA. Therefore, for the identification of rated entities, issuers, originators and credit rating agencies, the only method of global unique identification should be the Global Legal Entity Identifier (LEI).

| (5) | In order to ensure that the information on the ERP is up-to-date, rating information should be collected and published on a daily basis to allow for one daily update of the ERP outside Union business hours. |
| --- | --- |

(5)

In order to ensure that the information on the ERP is up-to-date, rating information should be collected and published on a daily basis to allow for one daily update of the ERP outside Union business hours.

| (6) | In order to allow ESMA to react promptly in the case of actual or potential non-compliance with Regulation (EC) No 1060/2009, the rating information reported by registered and certified credit rating agencies should enable ESMA to closely supervise the conduct and activities of credit rating agencies. Rating data should therefore be reported to ESMA on a monthly basis. However, in order to ensure proportionality, credit rating agencies that have fewer than 50 employees and that are not part of a group should be able to submit rating data every two months. ESMA should still be able to require those credit ratings agencies to carry out reporting on a monthly basis, in the light of the number and type of their ratings, including the complexity of the credit analysis, the relevance of the rated instruments or issuers, and the eligibility of the ratings to be used for regulatory purposes. |
| --- | --- |

(6)

In order to allow ESMA to react promptly in the case of actual or potential non-compliance with Regulation (EC) No 1060/2009, the rating information reported by registered and certified credit rating agencies should enable ESMA to closely supervise the conduct and activities of credit rating agencies. Rating data should therefore be reported to ESMA on a monthly basis. However, in order to ensure proportionality, credit rating agencies that have fewer than 50 employees and that are not part of a group should be able to submit rating data every two months. ESMA should still be able to require those credit ratings agencies to carry out reporting on a monthly basis, in the light of the number and type of their ratings, including the complexity of the credit analysis, the relevance of the rated instruments or issuers, and the eligibility of the ratings to be used for regulatory purposes.

| (7) | In order to avoid duplicated data reporting, ESMA should use for its ongoing supervision the data already reported for the purposes of the ERP. Credit rating agencies should also be required, for the purposes of ongoing supervision, to report information in respect of those credit ratings and rating outlooks not reported for the purposes of the ERP. |
| --- | --- |

(7)

In order to avoid duplicated data reporting, ESMA should use for its ongoing supervision the data already reported for the purposes of the ERP. Credit rating agencies should also be required, for the purposes of ongoing supervision, to report information in respect of those credit ratings and rating outlooks not reported for the purposes of the ERP.

| (8) | ESMA should use the data provided for the purposes of the ERP and for the purposes of its ongoing supervision to gather the information on the historical performance data that it should make available in the central repository in accordance with Article 11(2) of Regulation (EC) No 1060/2009. In order to further facilitate comparability and to ensure consistency with the data that has been reported in accordance with Delegated Regulation (EU) No 448/2012, newly certified credit rating agencies should be required to submit data regarding at least 10 years before their certification, or the period since the start of their activity. Certified credit rating agencies should not be required to report this data, partially or totally, where they can demonstrate that this would not be proportionate in view of their scale and complexity. |
| --- | --- |

(8)

ESMA should use the data provided for the purposes of the ERP and for the purposes of its ongoing supervision to gather the information on the historical performance data that it should make available in the central repository in accordance with Article 11(2) of Regulation (EC) No 1060/2009. In order to further facilitate comparability and to ensure consistency with the data that has been reported in accordance with Delegated Regulation (EU) No 448/2012, newly certified credit rating agencies should be required to submit data regarding at least 10 years before their certification, or the period since the start of their activity. Certified credit rating agencies should not be required to report this data, partially or totally, where they can demonstrate that this would not be proportionate in view of their scale and complexity.

| (9) | Credit rating agencies that are part of a group should be able to either report their ratings data separately to ESMA, or mandate one of the agencies within the group to submit the data on their behalf. However, due to credit rating agencies’ highly integrated organisation at Union level and in order to facilitate the understanding of the statistics, credit rating agencies are encouraged to report on a global basis for the whole group. |
| --- | --- |

(9)

Credit rating agencies that are part of a group should be able to either report their ratings data separately to ESMA, or mandate one of the agencies within the group to submit the data on their behalf. However, due to credit rating agencies’ highly integrated organisation at Union level and in order to facilitate the understanding of the statistics, credit rating agencies are encouraged to report on a global basis for the whole group.

| (10) | For the purposes of ESMA’s ongoing supervision and for the publication of the credit rating agencies’ historical performance reports, credit rating agencies may also, on a voluntary basis, report to ESMA credit ratings issued by third-country credit rating agencies belonging to the same group of credit rating agencies but not endorsed in accordance with Article 4(3) of Regulation (EC) No 1060/2009. |
| --- | --- |

(10)

For the purposes of ESMA’s ongoing supervision and for the publication of the credit rating agencies’ historical performance reports, credit rating agencies may also, on a voluntary basis, report to ESMA credit ratings issued by third-country credit rating agencies belonging to the same group of credit rating agencies but not endorsed in accordance with Article 4(3) of Regulation (EC) No 1060/2009.

| (11) | When submitting data, credit rating agencies should classify the credit ratings and rating outlooks issued in different categories: by rating type and sub-classifications, such as sector, industry or asset class, or by type of issuer and issue. Those categories are based on ESMA’s previous rating data collection experience and the need for supervision of credit rating data. |
| --- | --- |

(11)

When submitting data, credit rating agencies should classify the credit ratings and rating outlooks issued in different categories: by rating type and sub-classifications, such as sector, industry or asset class, or by type of issuer and issue. Those categories are based on ESMA’s previous rating data collection experience and the need for supervision of credit rating data.

| (12) | In order to provide for the reporting of credit ratings on new financial instruments that could arise as a result of financial innovation, a category should be included for reporting ‘other financial instruments’. Moreover, the corporate ratings and the structured finance ratings categories should also have an ‘other’ category to include all new types of corporate issues or structured finance instruments that cannot be classified into the existing categories. |
| --- | --- |

(12)

In order to provide for the reporting of credit ratings on new financial instruments that could arise as a result of financial innovation, a category should be included for reporting ‘other financial instruments’. Moreover, the corporate ratings and the structured finance ratings categories should also have an ‘other’ category to include all new types of corporate issues or structured finance instruments that cannot be classified into the existing categories.

| (13) | In order to allow ESMA to establish the ERP and to allow for credit rating agencies to have sufficient time to adjust their internal systems to the new reporting requirements, credit rating agencies should submit a first report by 1 January 2016. In order to ensure comparability and continuity of data reported under this Regulation, the first report should contain data on all ratings issued and not withdrawn by 21 June 2015. In addition, the first report should contain data regarding credit ratings and rating outlooks issued by credit rating agencies from 21 June 2015 until 1 January 2016. The first report should contain the same type of data as the rating data to be submitted on a daily basis thereafter. |
| --- | --- |

(13)

In order to allow ESMA to establish the ERP and to allow for credit rating agencies to have sufficient time to adjust their internal systems to the new reporting requirements, credit rating agencies should submit a first report by 1 January 2016. In order to ensure comparability and continuity of data reported under this Regulation, the first report should contain data on all ratings issued and not withdrawn by 21 June 2015. In addition, the first report should contain data regarding credit ratings and rating outlooks issued by credit rating agencies from 21 June 2015 until 1 January 2016. The first report should contain the same type of data as the rating data to be submitted on a daily basis thereafter.

| (14) | In order to allow ESMA to receive and process the data automatically in its internal systems, the data to be reported should be compiled in a standard format. Due to technical progress, a number of technical reporting instructions concerning the transmission or the format of the files to be submitted by credit rating agencies may have to be updated and communicated by ESMA through specific communications or guidelines. |
| --- | --- |

(14)

In order to allow ESMA to receive and process the data automatically in its internal systems, the data to be reported should be compiled in a standard format. Due to technical progress, a number of technical reporting instructions concerning the transmission or the format of the files to be submitted by credit rating agencies may have to be updated and communicated by ESMA through specific communications or guidelines.

| (15) | This Regulation is based on the draft regulatory technical standards submitted by ESMA to the Commission in accordance with Article 10 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (4). |
| --- | --- |

(15)

This Regulation is based on the draft regulatory technical standards submitted by ESMA to the Commission in accordance with Article 10 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (4).

| (16) | ESMA conducted an open public consultation on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010. |
| --- | --- |

(16)

ESMA conducted an open public consultation on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010.

| (17) | In order to comply with Article 2(3) of Regulation (EU) No 462/2013 of the European Parliament and of the Council (5), this Regulation should apply from 21 June 2015, |
| --- | --- |

(17)

In order to comply with Article 2(3) of Regulation (EU) No 462/2013 of the European Parliament and of the Council (5), this Regulation should apply from 21 June 2015,

HAS ADOPTED THIS REGULATION:

Article 1

Data to be reported

1.   Credit rating agencies shall report data on all their issued or endorsed credit ratings or rating outlooks in accordance with Articles 8, 9, and 11. Credit rating agencies shall report all credit ratings and rating outlooks issued at rated entity level and on all their issued debt instruments, where applicable.

2.   Credit rating agencies shall ensure the accuracy, completeness and availability of the data reported to ESMA and shall ensure that reports are submitted in accordance with Articles 8, 9 and 11 using appropriate systems developed on the basis of technical instructions provided by ESMA.

3.   Credit rating agencies shall notify ESMA immediately of any exceptional circumstances that may temporarily prevent or delay their reporting in accordance with this Regulation.

4.   For groups of credit rating agencies, the members of each group may mandate one member to submit reports required under this Regulation on their behalf. Each credit rating agency on whose behalf such a report is submitted shall be identified in the data submitted to ESMA.

5.   For the purposes of Article 11(2) and Article 21(4)(e) of Regulation (EC) No 1060/2009, a credit rating agency reporting on behalf of a group may include data on credit ratings and rating outlooks issued by third-country credit rating agencies belonging to the same group and not endorsed. Where a credit rating agency does not report such data it shall give an explanation in its qualitative data report, in Fields 9 and 10 of Table 1 of Part 1 of Annex I to this Regulation.

6.   Credit rating agencies shall disclose the solicitation status of each reported credit rating or rating outlook by specifying whether it is unsolicited with participation or unsolicited without participation in accordance with Article 10(5) of Regulation (EC) No 1060/2009 or solicited.

Article 2

Reporting of default status and withdrawals

1.   A credit rating agency shall report a default in respect of a rating in Fields 6 and 13 of Table 2 of Part 2 of Annex I where one of the following events has occurred:

| (a) | the rating indicates that a default has occurred according to the credit rating agency’s definition of default; |
| --- | --- |

(a)

the rating indicates that a default has occurred according to the credit rating agency’s definition of default;

| (b) | the rating has been withdrawn due to insolvency of the rated entity or due to debt restructuring; |
| --- | --- |

(b)

the rating has been withdrawn due to insolvency of the rated entity or due to debt restructuring;

| (c) | any other instance in which the credit rating agency considers a rated entity or rated instrument as defaulted, materially impaired or equivalent. |
| --- | --- |

(c)

any other instance in which the credit rating agency considers a rated entity or rated instrument as defaulted, materially impaired or equivalent.

2.   Where a reported rating is withdrawn, the reason for that shall be reported in Field 11 of Table 2 of Part 2 of Annex I.

Article 3

Rating types

Credit rating agencies shall, when reporting credit ratings or rating outlooks, classify them as one of the following types of ratings:

| (a) | corporate ratings; |
| --- | --- |

(a)

corporate ratings;

| (b) | structured finance ratings; |
| --- | --- |

(b)

structured finance ratings;

| (c) | sovereign and public finance ratings; |
| --- | --- |

(c)

sovereign and public finance ratings;

| (d) | other financial instruments. |
| --- | --- |

(d)

other financial instruments.

Article 4

Corporate ratings

1.   Credit rating agencies shall, when reporting corporate ratings, classify them within one of the following industry segments:

| (a) | financial institutions, including banks, brokers and dealers; |
| --- | --- |

(a)

financial institutions, including banks, brokers and dealers;

| (b) | insurance; |
| --- | --- |

(b)

insurance;

| (c) | all other corporate entities or issuers which are not included in points (a) and (b). |
| --- | --- |

(c)

all other corporate entities or issuers which are not included in points (a) and (b).

2.   Credit rating agencies shall classify corporate issues as one of the following issue types:

| (a) | bonds; |
| --- | --- |

(a)

bonds;

| (b) | covered bonds as referred to in Article 52(4) of Directive 2009/65/EC of the European Parliament and of the Council (6) that meet the eligibility requirements set out in paragraphs 1 to 3, 6 and 7 of Article 129 of Regulation (EU) No 575/2013 (7); |
| --- | --- |

(b)

covered bonds as referred to in Article 52(4) of Directive 2009/65/EC of the European Parliament and of the Council (6) that meet the eligibility requirements set out in paragraphs 1 to 3, 6 and 7 of Article 129 of Regulation (EU) No 575/2013 (7);

| (c) | other types of covered bonds, for which the credit rating agency has used specific covered bond methodologies, models or key rating assumptions for issuing the credit rating and which are not included in point (b); |
| --- | --- |

(c)

other types of covered bonds, for which the credit rating agency has used specific covered bond methodologies, models or key rating assumptions for issuing the credit rating and which are not included in point (b);

| (d) | other types of corporate issues which are not included in points (a), (b) and (c). |
| --- | --- |

(d)

other types of corporate issues which are not included in points (a), (b) and (c).

3.   The country code of a rated entity or its issues in Field 10 of Table 1 of Part 2 of Annex I shall be that of the country of domicile of the entity.

Article 5

Structured finance ratings

1.   Structured finance ratings shall relate to a financial instrument or other assets resulting from a securitisation transaction or scheme referred to in Article 4(1)(61) of Regulation (EU) No 575/2013.

2.   Credit rating agencies shall, when reporting structured finance ratings, classify them within one of the following asset classes:

| (a) | asset-backed securities, including auto loans, boat loans, airplane loans, student loans, consumer loans, small and medium-sized enterprise loans, healthcare loans, manufactured housing loans, film loans, utility loans, equipment leases, credit card receivables, tax liens, non-performing loans, recreational vehicle loans, leases to individuals, leases to businesses, and trade receivables; |
| --- | --- |

(a)

asset-backed securities, including auto loans, boat loans, airplane loans, student loans, consumer loans, small and medium-sized enterprise loans, healthcare loans, manufactured housing loans, film loans, utility loans, equipment leases, credit card receivables, tax liens, non-performing loans, recreational vehicle loans, leases to individuals, leases to businesses, and trade receivables;

| (b) | residential mortgage-backed securities, including prime and non-prime residential mortgage-backed securities, and home equity loans; |
| --- | --- |

(b)

residential mortgage-backed securities, including prime and non-prime residential mortgage-backed securities, and home equity loans;

| (c) | commercial mortgage-backed securities, including retail or office property loans, hospital loans, care residences loans, storage facilities loans, hotel loans, nursing facilities loans, industrial loans, and multifamily properties loans; |
| --- | --- |

(c)

commercial mortgage-backed securities, including retail or office property loans, hospital loans, care residences loans, storage facilities loans, hotel loans, nursing facilities loans, industrial loans, and multifamily properties loans;

| (d) | collateralised debt obligations, including collateralised loan obligations, credit-backed obligations, collateralised synthetic obligations, single-tranche collateralised debt obligations, credit fund obligations, collateralised debt obligations of asset-backed securities, and collateralised debt obligations of collateralised debt obligations; |
| --- | --- |

(d)

collateralised debt obligations, including collateralised loan obligations, credit-backed obligations, collateralised synthetic obligations, single-tranche collateralised debt obligations, credit fund obligations, collateralised debt obligations of asset-backed securities, and collateralised debt obligations of collateralised debt obligations;

| (e) | asset-backed commercial papers; |
| --- | --- |

(e)

asset-backed commercial papers;

| (f) | other structured finance instruments which are not included in points (a) to (e), including structured covered bonds, structured investment vehicles, insurance-linked securities and derivative product companies. |
| --- | --- |

(f)

other structured finance instruments which are not included in points (a) to (e), including structured covered bonds, structured investment vehicles, insurance-linked securities and derivative product companies.

3.   Where applicable, a credit rating agency shall also indicate which specific sub-asset class each rated instrument belongs to in Field 34 of Table 1 of Part 2 of Annex I.

4.   The country code of structured finance instruments shall be reported in Field 10 of Table 1 of Part 2 of Annex I and shall be that of the country of domicile of the majority of the underlying assets. Where it is not possible to identify the country of domicile of the majority of the underlying assets, the rated instrument shall be classified as ‘international’.

Article 6

Sovereign and public finance ratings

1.   Credit rating agencies shall, when reporting data concerning ratings of sovereign and public entities and of supranational organisations and their issued debt, classify them within one of the following sectors:

| (a) | State, where the rated entity is a State or the issuer of the rated debt or financial obligation, debt security or other financial instrument is a State, or a special purpose vehicle of a State, as referred to in point (v)(i) and (ii) of Article 3(1) of Regulation (EC) No 1060/2009 and where the rating refers to a State; |
| --- | --- |

(a)

State, where the rated entity is a State or the issuer of the rated debt or financial obligation, debt security or other financial instrument is a State, or a special purpose vehicle of a State, as referred to in point (v)(i) and (ii) of Article 3(1) of Regulation (EC) No 1060/2009 and where the rating refers to a State;

| (b) | regional or local authority, where the rated entity is a regional or local authority or the issuer of the rated debt or financial obligation, debt security or other financial instrument is a regional or local authority, or a special purpose vehicle of a regional or local authority, as referred to in point (v)(i) and (ii) of Article 3(1) of Regulation (EC) No 1060/2009 and where the rating refers to a regional or a local authority; |
| --- | --- |

(b)

regional or local authority, where the rated entity is a regional or local authority or the issuer of the rated debt or financial obligation, debt security or other financial instrument is a regional or local authority, or a special purpose vehicle of a regional or local authority, as referred to in point (v)(i) and (ii) of Article 3(1) of Regulation (EC) No 1060/2009 and where the rating refers to a regional or a local authority;

| (c) | international financial institution, as referred to in point (v)(iii) of Article 3(1) of Regulation (EC) No 1060/2009; |
| --- | --- |

(c)

international financial institution, as referred to in point (v)(iii) of Article 3(1) of Regulation (EC) No 1060/2009;

| (d) | supranational organisation, such as those institutions which are not included in point (c) and that are established, owned and controlled by more than one sovereign government shareholder, including organisations referred to in Section U of Annex I to Regulation (EC) No 1893/2006 of the European Parliament and of the Council (8); |
| --- | --- |

(d)

supranational organisation, such as those institutions which are not included in point (c) and that are established, owned and controlled by more than one sovereign government shareholder, including organisations referred to in Section U of Annex I to Regulation (EC) No 1893/2006 of the European Parliament and of the Council (8);

| (e) | public entities, including those referred to in Sections O, P and Q of Annex I to Regulation (EC) No 1893/2006. |
| --- | --- |

(e)

public entities, including those referred to in Sections O, P and Q of Annex I to Regulation (EC) No 1893/2006.

2.   Where no specific country can be identified as the country of issuance in the case of international financial institutions or supranational organisations as specified in paragraph (1)(c) and (d), the rated issuer shall be classified as ‘international’ in Field 10 of Table 1 of Part 2 of Annex I.

Article 7

Other financial instruments

Credit ratings or rating outlooks issued on a financial instrument as defined in Article 3(1)(k) of Regulation (EC) No 1060/2009 that cannot be classified as corporate issues under Article 4(2) of this Regulation, as structured finance instruments under Article 5 of this Regulation or as sovereign and public entity issues under Article 6 of this Regulation, shall be reported under the other financial instruments category.

Article 8

Reporting for the purpose of publication on the ERP

1.   Credit rating agencies shall report data on all credit ratings or rating outlooks pursuant to Article 11a(1) of Regulation (EC) No 1060/2009 each time it issues or endorses a credit rating or a rating outlook that is not exclusively disclosed to investors for a fee.

2.   Credit ratings and rating outlooks referred to in paragraph 1, issued between 20:00:00 Central European Time (CET) (9) on one day and 19:59:59 CET on the following day shall be reported until 21:59:59 CET on the following day.

3.   For each credit rating or rating outlook reported in accordance with paragraph 1, the accompanying press release referred to in point 5 of Part I of Section D of Annex I to Regulation (EC) No 1060/2009 shall be reported at the same time. Where that press release is firstly issued and submitted in a language other than English, an English version may also be submitted where and at the time that it becomes available.

4.   For the ratings referred to in points (a), (b) and (c) of Article 6(1), the accompanying research report referred to in point 1 of Part III of Section D of Annex I to Regulation (EC) No 1060/2009 shall be reported. Where that research report is firstly issued and submitted in a language other than English, an English version may also be submitted where and at the time that it becomes available.

Article 9

Reporting for the purpose of ESMA supervision

1.   As referred to in Article 21(4)(e) of Regulation (EC) No 1060/2009, credit rating agencies shall report data on all credit ratings and rating outlooks issued or endorsed, or issued in a third country and not endorsed as referred to in Article 1(5), including information on all entities or debt instruments submitted for their initial review or for preliminary rating, as referred to in point 6 of Part I of Section D of Annex I to Regulation (EC) No 1060/2009.

2.   For those credit ratings and rating outlooks to which Article 8 does not apply, credit rating agencies shall report rating data relating to the preceding calendar month on a monthly basis.

3.   A credit rating agency that has fewer than 50 employees and that is not part of a group of credit rating agencies may provide the rating data referred to in paragraph 2 every two months, unless ESMA requires monthly reporting in view of the nature, complexity and range of issues of its credit ratings. That rating data shall refer to the preceding two calendar months.

4.   The rating data referred to in paragraph 2 shall be submitted to ESMA within 15 days from the end of the period that is covered by the report. Where the 15th day of the month falls on a public holiday in the country of domicile of the credit rating agency, or where a credit rating agency reports on behalf of a group in accordance with Article 1(4), the country of domicile of that credit rating agency, the deadline shall be the next working day.

5.   Where no credit ratings or rating outlooks referred to in paragraph 1 were issued during the preceding calendar month, the credit rating agency shall not be obliged to submit any data.

Article 10

Reporting for the purpose of historical performance

The credit ratings issued or endorsed, or issued in a third country and not endorsed as referred to in Article 1(5), shall be used by ESMA for making available the historical performance data, in accordance with Article 11(2) of Regulation (EC) No 1060/2009 and point 1 of Part II of Section E of Annex I to that Regulation.

Article 11

Initial reporting

1.   Credit rating agencies registered or certified before 21 June 2015 shall prepare a first report to be reported to ESMA by 1 January 2016, that shall contain all of the following:

| (a) | information on all credit ratings and rating outlooks referred to in Articles 8 and 9, and that have been issued and not withdrawn by 21 June 2015; |
| --- | --- |

(a)

information on all credit ratings and rating outlooks referred to in Articles 8 and 9, and that have been issued and not withdrawn by 21 June 2015;

| (b) | credit ratings and rating outlooks referred to in Articles 8 and 9 that have been issued between 21 June 2015 and 31 December 2015. |
| --- | --- |

(b)

credit ratings and rating outlooks referred to in Articles 8 and 9 that have been issued between 21 June 2015 and 31 December 2015.

2.   Credit rating agencies registered or certified between 21 June 2015 and 31 December 2015 shall comply with this Regulation from 1 January 2016. In their first report, they shall report, in accordance with Articles 8 and 9, all the credit ratings and rating outlooks that were issued from the date of registration or certification.

3.   Credit rating agencies registered or certified after 1 January 2016 shall comply with this Regulation within three months after the date of registration or certification. In their first report, they shall report, in accordance with Articles 8 and 9, all the credit ratings and rating outlooks that were issued from the date of registration or certification.

4.   In addition to the first report referred to in paragraphs 2 and 3, a credit rating agency that is certified after 21 June 2015 shall also report, pursuant to Article 11(2) of Regulation (EC) No 1060/2009 and point 1 of Part II of Section E of Annex I to that Regulation, its historical performance data relating to at least 10 years before the date of certification or, where it started its rating activity less than 10 years before the date of certification, relating to the period since it started its rating activity. Certified credit rating agencies shall not be required to report those data, partially or totally, where they can demonstrate that this would not be proportionate in view of their scale and complexity.

Article 12

Data structure

1.   Credit rating agencies shall submit to ESMA qualitative data reports in the format specified in the tables in Part 1 of Annex I together with their first report of rating data in accordance with Article 11. Any changes to those qualitative data reports shall be immediately reported to ESMA’s system as an update, before the rating data which are affected by those changes are submitted to ESMA. Where a credit rating agency reports on behalf of a group, as referred to in Article 1(4), one set of qualitative data reports may be submitted to ESMA.

2.   Credit rating agencies shall submit rating data reports for ratings referred to in Articles 8, 9 and 11 in the format specified in the tables in Part 2 of Annex I.

Article 13

Reporting procedures

1.   Credit rating agencies shall submit the qualitative data reports and rating data reports referred to in Article 12 in accordance with the technical instructions provided by ESMA and using ESMA’s reporting system.

2.   Credit rating agencies shall store the files sent to and received by ESMA in electronic form for at least five years. Those files shall be made available to ESMA on request.

3.   Where a credit rating agency identifies factual errors in data that have been reported, it shall correct the relevant data without undue delay according to the technical instructions provided by ESMA.

Article 14

Repeal and transitional provisions

1.   The following Regulations are repealed with effect from 1 January 2016:

| (a) | Delegated Regulation (EU) No 446/2012; |
| --- | --- |

(a)

Delegated Regulation (EU) No 446/2012;

| (b) | Delegated Regulation (EU) No 448/2012. |
| --- | --- |

(b)

Delegated Regulation (EU) No 448/2012.

2.   References to the Regulations set out in paragraph 1 shall be construed as references to this Regulation and read in accordance with the correlation table in Annex II.

3.   Data submitted to ESMA in accordance with the Regulations set out in paragraph 1 before 1 January 2016 shall be considered as having been submitted in accordance with this Regulation and shall continue to be used by ESMA in accordance with Article 11(2) and Article 21(4)(e) of Regulation (EC) No 1060/2009 and point1 of Part II of Section E of Annex I to that Regulation.,

Article 15

Entry into force

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

It shall apply from 21 June 2015.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 30 September 2014.

For the Commission

The President

José Manuel BARROSO

---

(1)  OJ L 302, 17.11.2009, p. 1.

1

(2)  Commission Delegated Regulation (EU) No 448/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards for the presentation of the information that credit rating agencies shall make available in a central repository established by the European Securities and Markets Authority (OJ L 140, 30.5.2012, p. 17).

2

(3)  Commission Delegated Regulation (EU) No 446/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on the content and format of ratings data periodic reporting to be submitted to the European Securities and Markets Authority by credit rating agencies (OJ L 140, 30.5.2012, p. 2).

3

(4)  Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).

4

(5)  Regulation (EU) No 462/2013 of the European Parliament and of the Council of 21 May 2013 amending Regulation (EC) No 1060/2009 on credit rating agencies (OJ L 146, 31.5.2013, p. 1).

5

(6)  Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ L 302, 17.11.2009, p. 32).

6

(7)  Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).

7

(8)  Regulation (EC) No 1893/2006 of the European Parliament and of the Council of 20 December 2006 establishing the statistical classification of economic activities NACE Revision 2 and amending Council Regulation (EEC) No 3037/90 as well as certain EC Regulations on specific statistical domains (OJ L 393, 30.12.2006, p. 1).

8

(9)  CET takes account of the change to Central European Summer Time.

9

---

ANNEX I

PART 1

LIST OF FIELDS FOR THE QUALITATIVE DATA FILE

Table 1

CRA identification and methodology description

This table shall include the elements that provide the identification of the reporting credit rating agency including the legal identification, methodology and policies used.

This table shall contain one line for each reporting credit rating agency.

| No | Field name | Description | Type | Standard | Scope |
| --- | --- | --- | --- | --- | --- |
| 1 | CRA identifier | Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration or certification. | Mandatory. | | Technical |
| 2 | Reporting CRA Global Legal Entity Identifier (LEI) | LEI code of the credit rating agency sending the file. | Mandatory. | ISO 17442 | Public |
| 3 | CRA name | Name used to identify the credit rating agency. It shall correspond to the name used by the credit rating agency in the registration process and all other supervisory procedures within ESMA. Where one member of a group of credit rating agencies reports for the whole group it shall be the name referring to the group of credit rating agencies. | Mandatory. | | Public |
| 4 | CRA Description | Brief description of the credit rating agency. | Mandatory. | | Public |
| 5 | CRA Methodology | Description of the credit rating agency’s rating methodology. The credit rating agency can describe unique features of its rating methodology. | Mandatory. | | Public |
| 6 | Link to CRA website methodology page | The link to the credit rating agency’s web page that contains all information related to the methodologies, and descriptions of models and key rating assumptions. | Mandatory. | Valid web page reference. | Public |
| 7 | Solicited and unsolicited ratings policies | Description of the credit rating agency’s policy on solicited and unsolicited with or without participation ratings. If more than one policy exists, the relevant rating types applicable to each policy shall be specified. | Mandatory. | | Public |
| 8 | Subsidiary ratings policy | Description of policy regarding the reporting of the rating of subsidiaries. | Mandatory.
  Applicable for credit rating agencies issuing corporate ratings. | | Public |
| 9 | Geographical reporting scope | In the case of a credit rating agency part of a group, they should mention whether they report all the ratings issued by the group (global scope) or not (only the EU and endorsed ratings). Where the coverage is not global, the credit rating agency shall explain why not. For all other CRAs it should be reported as ‘global’ (‘Y’). | Mandatory. | Y — yes
  N — no | Public |
| 10 | Reason for non-global scope | The reason why a credit rating agency which is part of a group, does not report all the ratings of the group. | Mandatory.
  Applicable when ‘Geographical reporting scope’ = ‘N’ | | Public |
| 11 | Definition of default | Describes the definition of default used by the credit rating agency. | Mandatory. | | Public |
| 12 | Website link | Link to the home page of credit rating agency’s public website. | Mandatory. | Valid web page reference. | Public |

No

Field name

Description

Type

Standard

Scope

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration or certification.

Mandatory.

Technical

2

Reporting CRA Global Legal Entity Identifier (LEI)

LEI code of the credit rating agency sending the file.

Mandatory.

ISO 17442

Public

3

CRA name

Name used to identify the credit rating agency. It shall correspond to the name used by the credit rating agency in the registration process and all other supervisory procedures within ESMA. Where one member of a group of credit rating agencies reports for the whole group it shall be the name referring to the group of credit rating agencies.

Mandatory.

Public

4

CRA Description

Brief description of the credit rating agency.

Mandatory.

Public

5

CRA Methodology

Description of the credit rating agency’s rating methodology. The credit rating agency can describe unique features of its rating methodology.

Mandatory.

Public

6

Link to CRA website methodology page

The link to the credit rating agency’s web page that contains all information related to the methodologies, and descriptions of models and key rating assumptions.

Mandatory.

Valid web page reference.

Public

7

Solicited and unsolicited ratings policies

Description of the credit rating agency’s policy on solicited and unsolicited with or without participation ratings. If more than one policy exists, the relevant rating types applicable to each policy shall be specified.

Mandatory.

Public

8

Subsidiary ratings policy

Description of policy regarding the reporting of the rating of subsidiaries.

Mandatory.

Applicable for credit rating agencies issuing corporate ratings.

Public

9

Geographical reporting scope

In the case of a credit rating agency part of a group, they should mention whether they report all the ratings issued by the group (global scope) or not (only the EU and endorsed ratings). Where the coverage is not global, the credit rating agency shall explain why not. For all other CRAs it should be reported as ‘global’ (‘Y’).

Mandatory.

Y — yes

N — no

Public

10

Reason for non-global scope

The reason why a credit rating agency which is part of a group, does not report all the ratings of the group.

Mandatory.

Applicable when ‘Geographical reporting scope’ = ‘N’

Public

11

Definition of default

Describes the definition of default used by the credit rating agency.

Mandatory.

Public

12

Website link

Link to the home page of credit rating agency’s public website.

Mandatory.

Valid web page reference.

Public

Table 2

Issuer rating types list

This table shall be completed where the credit rating agency is issuing issuer credit ratings. The table shall have one line for each type of rating that is issued by the credit rating agency at issuer level.

| No | Field name | Description | Type | Standard | Scope |
| --- | --- | --- | --- | --- | --- |
| 1 | Issuer rating type identifier | Unique identifier for each issuer rating type that a rated entity can be assessed on. | Mandatory.
  Applicable if the credit rating agency is issuing issuer ratings. | | Technical |
| 2 | Issuer rating type name | Name of the issuer rating category. | Mandatory. | | Technical |
| 3 | Issuer rating type description | Description of the rated debt category. | Mandatory. | | Technical |
| 4 | Issuer rating type standard | This should distinguish the types of issuer ratings in: the main/global issuer credit rating, the debt rating type (the different categories will be described in Table 2, Part 2, Annex 1) and all other issuer debt ratings. | Mandatory. | IR — Main issuer rating
  DT — Debt rating
  OT — Other | Technical |

No

Field name

Description

Type

Standard

Scope

1

Issuer rating type identifier

Unique identifier for each issuer rating type that a rated entity can be assessed on.

Mandatory.

Applicable if the credit rating agency is issuing issuer ratings.

Technical

2

Issuer rating type name

Name of the issuer rating category.

Mandatory.

Technical

3

Issuer rating type description

Description of the rated debt category.

Mandatory.

Technical

4

Issuer rating type standard

This should distinguish the types of issuer ratings in: the main/global issuer credit rating, the debt rating type (the different categories will be described in Table 2, Part 2, Annex 1) and all other issuer debt ratings.

Mandatory.

IR — Main issuer rating

DT — Debt rating

OT — Other

Technical

Table 3

Debt categories list

This table shall be completed where the credit rating agency is rating debt categories or debt issues/instruments (such as senior unsecured debt, subordinated unsecured debt, junior subordinated unsecured debt). The table shall have one line for each type of debt.

| No | Field name | Description | Type | Standard | Scope |
| --- | --- | --- | --- | --- | --- |
| 1 | Rated debt classification identifier | Unique identifier for each debt category used for classifying the corporate and sovereign issuer debt categories or debt issues. | Mandatory.
  Applicable if the rating agency is rating corporate or sovereign debt categories | | Technical |
| 2 | Rated debt classification name | Name of the rated debt category. | Mandatory. | | Technical |
| 3 | Rated debt classification description | Description of the rated debt category. | Mandatory. | | Technical |
| 4 | Seniority | Identifies the seniority of the debt class of the rated issuer or issue. | Optional. | SEU — in case the rated issuer debt or the issue belongs to the senior unsecured debt category
  SEO — in case the rated issuer or the issue belongs to a senior debt category other than SEU
  SB — in case the issuer debt or the issue belongs to a subordinated debt category. | Technical |

No

Field name

Description

Type

Standard

Scope

1

Rated debt classification identifier

Unique identifier for each debt category used for classifying the corporate and sovereign issuer debt categories or debt issues.

Mandatory.

Applicable if the rating agency is rating corporate or sovereign debt categories

Technical

2

Rated debt classification name

Name of the rated debt category.

Mandatory.

Technical

3

Rated debt classification description

Description of the rated debt category.

Mandatory.

Technical

4

Seniority

Identifies the seniority of the debt class of the rated issuer or issue.

Optional.

SEU — in case the rated issuer debt or the issue belongs to the senior unsecured debt category

SEO — in case the rated issuer or the issue belongs to a senior debt category other than SEU

SB — in case the issuer debt or the issue belongs to a subordinated debt category.

Technical

Table 4

Issue/programme types list

This table shall be completed where the credit rating agency is rating debt issues/financial instruments.. The credit rating agency shall list all issue types or programmes under which the debts are issued, (such as note, medium term note, bonds, commercial paper). The table shall have one line for each such programme or issue type.

| No | Field name | Description | Type | Standard | Scope |
| --- | --- | --- | --- | --- | --- |
| 1 | Issue/programme type identifier | Unique identifier for each issue/programme used for classifying the issue ratings. | Mandatory.
  Applicable if the credit rating agency is rating corporate or sovereign issues. | | Technical |
| 2 | Issue/programme type name | Issue/programme name. | Mandatory. | | Technical |
| 3 | Issue/programme type description | Issue/programme description. | Mandatory. | | Technical |

No

Field name

Description

Type

Standard

Scope

1

Issue/programme type identifier

Unique identifier for each issue/programme used for classifying the issue ratings.

Mandatory.

Applicable if the credit rating agency is rating corporate or sovereign issues.

Technical

2

Issue/programme type name

Issue/programme name.

Mandatory.

Technical

3

Issue/programme type description

Issue/programme description.

Mandatory.

Technical

Table 5

Lead analysts list

This table shall contain a list of all the lead analysts that operate in the Union. If a lead analyst worked in different time periods as a lead analyst (with time gaps in between) then the lead analyst should be reported in the table multiple times: one for each lead analyst appointment period. The start and end date of allocation to the function shall not overlap for the same lead analyst. The table shall contain one line for each lead analyst and distinct function period.

| No | Field name | Description | Type | Standard | Scope |
| --- | --- | --- | --- | --- | --- |
| 1 | Lead analyst internal identifier | Internal unique identifiers of the staff member who is appointed in the analyst function by the credit rating agency. | Mandatory. | | Supervision only |
| 2 | Lead analyst name | Lead analyst full name. | Mandatory. | | Supervision only |
| 3 | Lead analyst start date | The start date of the staff member in the lead analyst function. | Mandatory. | ISO 8601 date format (YYYY-MM-DD) | Supervision only |
| 4 | Lead analyst end date | The end date of the staff member in the lead analyst function If the staff member is currently working in the lead analyst function, it should be reported as 9999-01-01. | Mandatory. | ISO 8601 date format (YYYY-MM-DD) or 9999-01-01 | Supervision only |

No

Field name

Description

Type

Standard

Scope

1

Lead analyst internal identifier

Internal unique identifiers of the staff member who is appointed in the analyst function by the credit rating agency.

Mandatory.

Supervision only

2

Lead analyst name

Lead analyst full name.

Mandatory.

Supervision only

3

Lead analyst start date

The start date of the staff member in the lead analyst function.

Mandatory.

ISO 8601 date format (YYYY-MM-DD)

Supervision only

4

Lead analyst end date

The end date of the staff member in the lead analyst function If the staff member is currently working in the lead analyst function, it should be reported as 9999-01-01.

Mandatory.

ISO 8601 date format (YYYY-MM-DD) or 9999-01-01

Supervision only

Table 6

Rating scale

This table shall contain the description of all the credit rating scales used by the credit rating agencies for issuing credit ratings to be reported under this Regulation. The credit rating agencies shall report one line for each credit rating scale. For each credit rating scale reported, information about one or more rating categories can be reported in the ‘Categories’ sub-table and about one or more notches can be reported in the ‘Notches’ sub-report.

| No | Field name | Description | Type | Standard | Scope |
| --- | --- | --- | --- | --- | --- |
| 1 | Rating scale identifier | Identifies uniquely a specific rating scale of the credit rating agency. | Mandatory. | | Technical |
| 2 | Rating scale validity start date | The date at which the rating scale starts being valid. | Mandatory. | ISO 8601 date format (YYYY-MM-DD) | Public |
| 3 | Rating scale validity end date | The last date when a rating scale is valid. For the rating scale that re currently valid, it should be reported as 9999-01-01. | Mandatory. | ISO 8601 date format (YYYY-MM-DD) or 9999-01-01 | Public |
| 4 | Description of the rating scale | Description of the type of ratings included in the scale, including the geographical scope where relevant. | Mandatory. | | Public |
| 5 | Time horizon | Identifies the applicability of the rating scale based on the time horizon. | Mandatory. | L — where the rating scale is applicable to long-term ratings
  S – where the rating scale is applicable to short-term ratings | Public |
| 6 | Rating type | Identifies the applicability of the rating scale based on the rating type. | Mandatory. | C — where the rating scale is applicable to corporate ratings
  S — where the rating scale is applicable to sovereign & public finance ratings
  T — where the rating scale is applicable to structured finance ratings
  O – where the rating scale is applicable to other financial instruments | Public |
| 7 | Rating scale scope | Specifies if the rating scale is used for issuing preliminary ratings, final ratings or both. | Mandatory. | PR — rating scale is used for issuing preliminary ratings only
  FR — rating scale is used for issuing final ratings only
  BT — rating scale is used for issuing preliminary and final ratings | Public |
| 8 | Rating scale used for CEREP | Indicates if the rating is to be used by ESMA for the central repository (CEREP) statistics calculations.
  For any given period, only one rating scale per combination of rating type and time horizon can be used. | Mandatory. | Y — yes
  N — no | Technical |
| 9 | Categories | Rating category value | Order of the rating category in the rating scale (where 1 is correspondent to the category that represents the best creditworthiness). | Mandatory. | The ordinal is an integer value with minimum value 1 and a maximum value of 20. The declaration of the rating categories values must be consecutive. There must be as a minimum one rating category for each rating. | Public |
| 10 | Rating category label | Identifies a specific rating category within the rating scale. | Mandatory. | | Public |
| 11 | Rating category description | Definition of the rating category in the rating scale. | Mandatory. | | Public |
| 12 | Notches | Notch value | Order of the notch in the rating scale (where 1 is correspondent to the notch that represents the best creditworthiness). | Mandatory. | The notch value is an integer with minimum value 1 and a maximum value of 99. Values provided must be consecutive. There must be as a minimum one rating notch for each rating. | Public |
| 13 | Notch label | Identifies a specific notch within the rating scale. Notches provide additional detail to the rating category. | Mandatory. | | Public |
| 14 | Notch description | Description of the notch in the rating scale. | Mandatory. | | Public |

No

Field name

Description

Type

Standard

Scope

1

Rating scale identifier

Identifies uniquely a specific rating scale of the credit rating agency.

Mandatory.

Technical

2

Rating scale validity start date

The date at which the rating scale starts being valid.

Mandatory.

ISO 8601 date format (YYYY-MM-DD)

Public

3

Rating scale validity end date

The last date when a rating scale is valid. For the rating scale that re currently valid, it should be reported as 9999-01-01.

Mandatory.

ISO 8601 date format (YYYY-MM-DD) or 9999-01-01

Public

4

Description of the rating scale

Description of the type of ratings included in the scale, including the geographical scope where relevant.

Mandatory.

Public

5

Time horizon

Identifies the applicability of the rating scale based on the time horizon.

Mandatory.

L — where the rating scale is applicable to long-term ratings

S – where the rating scale is applicable to short-term ratings

Public

6

Rating type

Identifies the applicability of the rating scale based on the rating type.

Mandatory.

C — where the rating scale is applicable to corporate ratings

S — where the rating scale is applicable to sovereign & public finance ratings

T — where the rating scale is applicable to structured finance ratings

O – where the rating scale is applicable to other financial instruments

Public

7

Rating scale scope

Specifies if the rating scale is used for issuing preliminary ratings, final ratings or both.

Mandatory.

PR — rating scale is used for issuing preliminary ratings only

FR — rating scale is used for issuing final ratings only

BT — rating scale is used for issuing preliminary and final ratings

Public

8

Rating scale used for CEREP

Indicates if the rating is to be used by ESMA for the central repository (CEREP) statistics calculations.

For any given period, only one rating scale per combination of rating type and time horizon can be used.

Mandatory.

Y — yes

N — no

Technical

9

Categories

Rating category value

Order of the rating category in the rating scale (where 1 is correspondent to the category that represents the best creditworthiness).

Mandatory.

The ordinal is an integer value with minimum value 1 and a maximum value of 20. The declaration of the rating categories values must be consecutive. There must be as a minimum one rating category for each rating.

Public

10

Rating category label

Identifies a specific rating category within the rating scale.

Mandatory.

Public

11

Rating category description

Definition of the rating category in the rating scale.

Mandatory.

Public

12

Notches

Notch value

Order of the notch in the rating scale (where 1 is correspondent to the notch that represents the best creditworthiness).

Mandatory.

The notch value is an integer with minimum value 1 and a maximum value of 99. Values provided must be consecutive. There must be as a minimum one rating notch for each rating.

Public

13

Notch label

Identifies a specific notch within the rating scale. Notches provide additional detail to the rating category.

Mandatory.

Public

14

Notch description

Description of the notch in the rating scale.

Mandatory.

Public

PART 2

LIST OF FIELDS FOR THE RATING DATA FILE

Table 1

Data describing the rated entity/instrument

This table shall identify and describe all credit ratings issued by the credit rating agency and are to be reported for the scope of this Regulation. This table shall contain one line for each individual credit rating to be reported. Where it applies, for each credit rating line, one or more ‘Originators’ can be reported.

| No | Field name | Description | Type | Standard | Scope |
| --- | --- | --- | --- | --- | --- |
| 1 | CRA identifier | Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration or certification. | Mandatory. | | Technical |
| 2 | Reporting CRA LEI | LEI code of the credit rating agency sending the file. | Mandatory. | ISO 17442 | Public |
| 3 | Responsible CRA LEI | LEI code of the credit rating agency responsible for the rating, i.e. in case of:






  — | a rating issued in the Union, the registered credit rating agency that has issued the rating, |

No

Field name

Description

Type

Standard

Scope

1

CRA identifier

Code used to identify the reporting credit rating agency. It is provided by ESMA upon registration or certification.

Mandatory.

Technical

2

Reporting CRA LEI

LEI code of the credit rating agency sending the file.

Mandatory.

ISO 17442

Public

3

Responsible CRA LEI

LEI code of the credit rating agency responsible for the rating, i.e. in case of:

—

a rating issued in the Union, the registered credit rating agency that has issued the rating,

| — | an endorsed rating, the registered credit rating agency that endorsed the rating, |
| --- | --- |

—

an endorsed rating, the registered credit rating agency that endorsed the rating,

| — | a rating issued by a certified credit rating agency, the certified credit rating agency, |
| --- | --- |

—

a rating issued by a certified credit rating agency, the certified credit rating agency,

| — | a rating issued in a third country but not endorsed by a registered credit rating agency, the third country credit rating agency that issued the rating. |
| --- | --- |

—

a rating issued in a third country but not endorsed by a registered credit rating agency, the third country credit rating agency that issued the rating.

Mandatory.

ISO 17442

Public

4

Issuer CRA LEI

LEI code of the credit rating agency that issued the rating, that is to say in case of:

| — | a rating issued in the Union, the registered credit rating agency, |
| --- | --- |

—

a rating issued in the Union, the registered credit rating agency,

| — | an endorsed rating, the third country credit rating agency that has issued the endorsed rating, |
| --- | --- |

—

an endorsed rating, the third country credit rating agency that has issued the endorsed rating,

| — | a rating issued by a certified credit rating agency, the certified entity, |
| --- | --- |

—

a rating issued by a certified credit rating agency, the certified entity,

| — | a rating issued in a third country but not endorsed by a registered credit rating agency, the third country credit rating agency that issued the rating. |
| --- | --- |

—

a rating issued in a third country but not endorsed by a registered credit rating agency, the third country credit rating agency that issued the rating.

Mandatory.

ISO 17442

Public

5

Rating identifier

Unique identifier of the rating, which shall be maintained unchanged over time. The rating identifier shall be unique in all reports to ESMA.

Mandatory.

Technical

6

Rating type

Identifies whether the rating is a corporate rating, a sovereign or public finance rating, a structured finance rating or other financial instrument rating. It shall be maintained unchanged over time.

Mandatory.

C — if the rating is applicable to corporate ratings

S — if the rating is applicable to sovereign ratings

T — if the rating is applicable to structured finance ratings

O — if the rating is applicable to other financial instruments.

Public

7

Other rating type

Describes the type of rated financial instrument that was reported in the ‘O’ rating type.

Mandatory.

Applicable for ‘Rating type’ = ‘O’.

Supervision only

8

Rated object

Specifies if the rating refers to an entity/issuer of debt or a debt issuance of a rated entity/financial instrument.

Mandatory.

ISR — the rating refers to an entity or issuer of debt

INT — the rating refers to a debt issuance/financial instrument.

Public

9

Time horizon

Identifies whether the rating is a short-term or a long-term rating. It shall be maintained unchanged over time.

Mandatory.

L — if the rating is a long-term rating

S — if the rating is a short-term rating.

Public

10

Country

Country code of the rated entity/instrument.

Mandatory.

ISO 3166-1 code.

The code ‘ZZ’ shall be used to identify the category ‘international’.

Public

11

Currency

Identifies whether the rating is expressed in respect of local or foreign currency.

Mandatory.

Applicable for ‘Rating type’ = ‘C’ or ‘S’

LC — in case of a local currency rating

FC — in case of a foreign currency rating.

Public

12

Legal entity/issuer LEI

LEI code of the legal entity/issuer. It shall be maintained unchanged over time.

Mandatory.

Applicable only if the rated entity is eligible for acquiring a LEI code.

ISO 17442

Public

13

Legal entity/issuer national fiscal code

Unique national fiscal code of the rated entity. It shall be maintained unchanged over time.

Optional.

If applicable.

Public

14

Legal entity/issuer value added tax (VAT) code

Unique national VAT code of the rated entity. It shall be maintained unchanged over time.

Optional.

If applicable.

Public

15

Legal entity/issuer Bank Identified Code (BIC)

Unique BIC of the rated entity. It shall be maintained unchanged over time.

Optional.

Applicable only for entities that represent financial institutions (‘Industry’ = ‘FI’ or ‘IN’).

ISO 9362

Public

16

Legal entity/issuer internal identifier

Unique internal identifier of the issuer. It shall be maintained unchanged over time.

Mandatory.

Supervision only

17

Legal entity/issuer name

It shall contain appropriate understandable reference to the legal name of the legal entity/issuer.

Mandatory.

Public

18

Parent legal entity/Issuer LEI

LEI code of the parent company. To be reported only in case the rated issuer is a subsidiary of another rated entity. It shall be maintained unchanged over time.

Mandatory.

Applicable if the rated entity/debt issuer is a subsidiary of another rated entity.

ISO 17442

Public

19

Parent legal entity/issuer internal identifier

Unique internal identifier of the parent entity/issuer. It shall be maintained unchanged over time.

Mandatory.

Applicable if the rated entity is a subsidiary of another rated entity.

Supervision only

20

Sub-sovereign Nomenclature of Territorial Units for Statistics (NUTS) code

Identifier of the city/region of the rated municipality/sub-sovereign.

Mandatory.

Applicable only for ‘Country’ is part of the Union and for ‘Rating type’ = ‘S’ and ‘Sector’ = ‘SM’

EUROSTAT nomenclature: NUTS 1 to 3

Public

21

ISIN

International Securities Identifying Number (ISIN) of the rated instrument. It shall be maintained unchanged over time.

Mandatory.

Applicable for ‘Rated object’ = ‘INT’ and if the rated instruments has an ISIN allocated.

ISO 6166

Public

22

Instrument unique identifier

A combination of instrument’s attributes that uniquely identifies the instrument.

Optional.

ESMA standard

Supervision only

23

Instrument internal identifier

Unique code to identify the financial instrument that is rated. It shall be maintained unchanged over time.

Mandatory.

Applicable for ‘Rated object’ = ‘INT’.

Supervision only

24

Issue/programme type

Indicates the issue/programme type of the rating.

Optional.

Applicable for ‘Rating type’ = ‘C’ or ‘S’ and ‘Rated object’ = ‘INT’.

Valid ‘Issue/programme type identifier’, previously reported in the ‘Issue/programme type list’.

Public

25

Issuer rating type

Specifies the issuer rating type.

Mandatory.

Applicable for ‘Rating type’ = ‘C’ and for ‘Rated object’ = ‘ISR’

Valid ‘Issuer rating type identifier’, previously reported in the ‘Issuer rating type list’.

Public

26

Debt category

Specifies the debt category for the rated issues or debts.

Mandatory.

Applicable for ‘Rating type’ = ‘C’ or ‘S’ and ‘Rated object’ = ‘ISR’ and ‘Issuer rating type’ = ‘DT’ or ‘Rated object’ = ‘INT’ if applies.

Valid ‘Rated debt classification identifier’, previously reported in the ‘Debt categories list’.

Public

27

Issuance date

Specifies the issuance date of the rated instrument or debt issuance. It shall be maintained unchanged over time.

Mandatory.

Applicable for ‘Rated object’ = ‘INT’.

ISO 8601 date format: (YYYY-MM-DD)

Supervision only

28

Maturity date

The maturity date of the rated instrument or debt issuance.

Mandatory.

Applicable for ‘Rated object’ = ‘INT’.

If perpetual: 9999-01-01.

ISO 8601 date format: (YYYY-MM-DD) or 9999-01-01

Supervision only

29

Outstanding issue volume

The outstanding issue volume at first rating issuance. The amount shall be reported in the currency of the issuance reported in ‘Outstanding issue volume currency code’.

Mandatory.

Applicable for ‘Rated object’ = ‘INT’.

Supervision only

30

Outstanding issue volume currency code

The code of the currency of the rated issue.

Mandatory.

Applicable for ‘Rated object’ = ‘INT’.

ISO 4217

Supervision only

31

Industry

Categorisation of the rated entity or debt issuances reported under the ‘corporate’ rating type in financial, insurance and non-financial corporates.

Mandatory.

Applicable for ‘Rating type’ = ‘C’.

FI — for financial institution rating including banks, brokers and dealers

IN — for insurance institution rating

CO — for corporate institution rating that is not included in ‘FI’ or ‘IN’

Public

32

Sector

Specifies subcategories for sovereign and public finance ratings.

Mandatory.

Applicable for ‘Rating type’ = ‘S’.

SV — for State rating

SM — for regional or local authority rating

IF — for international financial institution rating

SO — for supranational organisations rating other than ‘IF’

PE — for public entities rating.

Public

33

Asset class

Defines the main asset classes for structured finance ratings.

Mandatory.

Applicable for ‘Rating type’ = ‘T’.

ABS — for ABS rating

RMBS — for RMBS rating

CMBS — for CMBS rating

CDO — for CDO rating

ABCP — for ABCP rating

OTH — for other.

Public

34

Sub-asset

Defines the sub-asset classes for the structured finance ratings.

Mandatory.

Applicable for ‘Rating type’ = ‘T’.

CCS — if ABS: credit card receivable backed securities

ALB — if ABS: auto loan backed securities

CNS — if ABS: consumer loan backed security

SME — if ABS: small and medium-sized enterprises loan backed securities

LES — if ABS: leases to individual or business backed security

HEL — if RMBS: home equity loans

PRR — if RMBS: prime RMBS, NPR — if RMBS: non-prime RMBS

CFH — if CDO: cash flow and hybrid CDOs/CLOs

SDO — if CDO: synthetic CDOs/CLOs

MVO — if CDO: market value CDOs

SIV — if OTH: structured investment vehicles

ILS — if OTH: insurance-linked securities

DPC — if OTH: derivative product companies

SCB — if OTH: structured covered bonds

OTH — other.

Public

35

Other sub-asset class

Indicates the other asset or sub-asset class category.

Mandatory.

Applicable for ‘Rating-type’ = ‘T’ and ‘Sub-asset’ = ‘OTH’.

Supervision only

36

Corporate issues classifications

Classification of covered bonds.

Mandatory.

Applicable for ‘Rating type’ = ‘C’ and ‘Rated object’ = ‘INT’.

BND —bonds

CBR — covered bonds as referred to in Article 52(4) of Directive 2009/65/EC of the European Parliament and of the Council and that meet the eligibility requirements set out in Article 129 of Regulation (EU) No 575/2013

OCB — other types of covered bonds, for which the credit rating agency has used specific covered bonds methodologies, models or key rating assumptions for issuing the credit rating and which are not included in point (b) of Article 5(2) of this Regulation

OTH — other types of corporate issues which are not included in points (a), (b) and (c) of Article 5(2) of this Regulation..

Public

37

Other corporate issues

Describes the type of issue reported under the ‘other’ category of corporate issues.

Mandatory.

Applicable for ‘Corporate issues classifications’ = ‘OTH’.

Supervision only

38

Tranche class

Class of the tranche.

Mandatory.

Applicable for ‘Rating type’ = ‘T’.

Public

39

Series No/programme ID

In case the issue is part of a series of multiple issuances under the same programme, it shall specify the issue’s specific series number. Programme ID could be added, where this exists, to complement the ‘Programme/deal/issuance name’.

Optional.

Applicable for ‘Rating type’ = ‘T’ or ‘Rating type = ‘C’ and ‘Rated object’ = ‘INT’.

Public

40

Programme/deal/issuance name

Specifies the programme/deal/issuance name used in the public issuance documents

Optional.

Applicable for ‘Rated object’ = ‘INT’.

Public

41

Originators

Originator internal identifier

Unique internal code assigned by the credit rating agency to the originator.

Mandatory.

Applicable for ‘Rating type’ = ‘T’.

In case of multiple originators that cannot be individually identified, ‘MULTIPLE’ should be reported.

Supervision only

42

Originator LEI

LEI code of the originator.

Mandatory.

Applicable for ‘Rating type’ = ‘T’ and ‘Originator Internal Identifier ’ is not ‘MULTIPLE’.

ISO 17442

Supervision only

43

Originator BIC code

Unique BIC of the originator.

Optional.

Applicable for ‘Rating type’ = ‘T’ and ‘Originator Internal Identifier ’ is not ‘MULTIPLE’.

ISO 9362

Supervision only

44

Originator name

It shall contain appropriate understandable reference to the legal name of the originator (or the parent company of the issuer).

Mandatory.

Applicable for ‘Rating type’ = ‘T’ and ‘Originator internal identifier ’ is not ‘MULTIPLE’.

Supervision only

45

Preceding preliminary rating

For all the new ratings it specifies if the credit rating agency issued a preliminary rating or initial review before issuing the final rating.

Mandatory.

Applicable for ‘Action type’ = ‘NEW’ in Table 2 of Part 2

Y — yes

N — no

Supervision only

46

Preceding preliminary rating identifier

Indicates the rating identifier of the preceding issued preliminary rating or initial review. The ‘Preceding preliminary rating identifier’ should correspond to an already reported valid preliminary rating ‘Rating identifier’.

Mandatory.

Applicable for ‘Preceding preliminary rating’ = ‘Y’

Supervision only

47

Complexity indicator

Indicates the complexity grade assigned to a structured finance rating considering factors such as the number of originators, counterparties, countries, the need to develop new methodologies or new innovative features, credit enhancements, underlying documentation, complex collateral, different or new jurisdictions and/or existence of derivative components amongst other factors that may be considered relevant by the CRA when it is assessing the complexity of a rating service.

Mandatory.

Applicable for ‘Rating type’ = ‘T’.

S — standard complexity

C — additional complexity

Supervision only

48

Structured finance transaction type

Indication of whether the instrument refers to a stand-alone or master-trust.

Mandatory.

Applicable for ‘Rating type’ = ‘T’.

S — stand-alone transaction

M — master trust transaction

Supervision only

49

Type of rating for ERP

Identifies the credit ratings that fall under the scope of ERP, based on the requirements set out in Article 11a of the Regulation (EC) No 1060/2009.

Mandatory.

NXI — the rating is not exclusively produced for and disclosed to investors for a fee

EXI — the rating is exclusively produced for and disclosed to investors for a fee

Technical

50

Relevant for CEREP statistics calculation

Indicates if the rating shall be used for CEREP statistics calculation.

Mandatory.

Y — yes

N — no

Technical

Table 2

Data about the individual credit rating actions

This table contains all the rating actions that are issued in relation to the credit ratings reported in Table 1. Where the press releases or the sovereign research reports are issued in multiple languages, multiple versions of the press releases or the sovereign research reports can be reported for the same rating action.

| No | Field name | Description | Type | Standard | Scope |
| --- | --- | --- | --- | --- | --- |
| 1 | Rating action identifier | Unique identifier of the rating action. Rating action identifier shall be unique per each reported rating. | Mandatory. | | Technical |
| 2 | Rating identifier | Unique identifier of the rating. | Mandatory. | Should be a valid ‘Rating identifier’ reported in Table 1 of Part 2 | Technical |
| 3 | Action validity date and time | The date and time of validity of the action. This shall coincide with the Coordinated Universal Time (UTC) of publication of the action or distribution by subscription. | Mandatory. | ISO 8601 extended date time format: YYYY-MM-DD (HH:MM:SS) | Public |
| 4 | Action communication date and time | The date and time of communication of the action to the rated entity.
  It shall be expressed as Coordinated Universal Time (UTC). Should be reported only for the ratings issued in the Union. | Mandatory.
  Applicable for ‘Location of the rating issuance ’ = ‘I’. | ISO 8601 extended date time format: YYYY-MM-DD (HH:MM:SS) | Supervision only |
| 5 | Action decision date | Identifies the date when the action is decided.
  It shall be the date of preliminary approval (such as by the rating committee) of the action where this is then communicated to the rated entity before final approval.
  Should be reported only for the ratings issued in the Union. | Mandatory.
  Applicable for ‘Location of the rating issuance ’ = ‘I’. | ISO 8601 date format: (YYYY-MM-DD) | Supervision only |
| 6 | Action type | Identifies the type of action carried out by the credit rating agency with respect to a specific rating. | Mandatory. | OR — in case of outstanding rating (only for first time reporting)
  PR — in case of preliminary rating
  NW — in case the rating is issued for the first time
  UP — in case the rating is upgraded
  DG — in case the rating is downgraded
  AF — in case the rating is affirmed
  DF — in case a rated issuer or instrument is assigned to or removed from a default status and the default is not linked with another rating action
  SP — in case the rating is suspended
  WD — in case the rating is withdrawn
  OT — in case the rating is placed to or removed from the outlook/trend status
  WR — in case the rating is placed to or removed from the watch/review status | Public |
| 7 | Outlook/watch/default status | An outlook/watch/suspension/default status is assigned, kept or removed with respect to the rating, | Mandatory.
  Applicable for ‘Action type’ = ‘OT’,’WR’, ‘DF’, ‘SP’ or ‘OR’ | P — status is placed
  M — status is maintained
  R — status is removed | Public |
| 8 | Outlook | Identifies the outlook/trend assigned to a rating by the CRA according to its relevant policy. | Mandatory.
  Applicable for ‘Action type’ = ‘OT’ and ‘OR’ | POS — in case of a positive outlook
  NEG — in case of a negative outlook
  EVO — in case of an evolving or developing outlook
  STA — in case of a stable outlook | Public |
| 9 | Watch/Review | Identifies the watch or review status assigned to a rating by the CRA according to its relevant policy. | Mandatory.
  Applicable for ‘Action type’ = ‘WR’ and ‘OR’ | POW — in case of a positive watch/review
  NEW — in case of a negative watch/review
  EVW — in case of an evolving or developing watch/review
  UNW — in case of a watch/review with uncertain direction | Public |
| 10 | Watch/Review determinant | Identifies the reason for the watch/review status of a rating. Should be reported only for the ratings issued in the Union. | Mandatory.
  Applicable for ‘Action type’ = ‘WR’ and ‘OR’ and ‘Location of the rating issuance ’ = ‘I’. | 1 — where the watch/review status is due to changes in methodologies, models or key rating assumptions
  2 — where the watch/review status is due to economic, financial or credit reasons
  3 — where the watch or review status is due to other reasons (e.g. departure of analysts, occurrence of conflicts of interests) | Public |
| 11 | Withdrawal reason | Identifies the reason of a withdrawal action. | Mandatory.
  Applicable for ‘Action Type’ = ‘WD’ | 1 — in case of incorrect or insufficient information on issuer/issue
  2 — in case of bankruptcy of the rated entity or debt restructuring
  3 — in case of reorganisation of rated entity (including the merger or acquisition of the rated entity)
  4 — in case of the end of maturity of the debt obligation, or in case the debt is redeemed, called, prefunded, cancelled
  5 — in case of automatic invalidity of rating due to business model of CRA (such as expiry of ratings valid for a predetermined period)
  6 — in case of rating withdrawal due to other reasons
  7 — in case the rating is affected by one of the points specified in Annex I, Section B, Point 3 of the Regulation (EC) No 1060/2009
  8 — in case of client’s request | Public |
| 12 | Other withdrawal reason | Where the rating was withdrawn due to other reasons than the ones provided, please specify the reason | Mandatory.
  Applicable for ‘Withdrawal reason’ = 6 | | Supervision only |
| 13 | Default flag | Where the rated entity or the financial instrument is defaulted or removed from default as a result of another rating action (i.e.: upgrade, downgrade) | Mandatory.
  Applicable for ‘Action type’ = ‘AF’, ‘DG’, ‘UP’ or ‘OR’ | Y — yes
  N — no | Public |
| 14 | Suspension reason | Specifies the reason for a suspension action. | Mandatory.
  Applicable for ‘Action type’ = ‘SP’ | | Public |
| 15 | Rating scale identifier | Identifies the rating scale used for issuing the rating action. | Mandatory.
  Applicable for ‘Action type’ = ‘NW’ or ‘UP’ or ‘AF’ or ‘DG’ or ‘PR’ or ‘OR’ | Valid ‘Rating scale identifier’, previously reported in the ‘Rating scale’ table. | Public |
| 16 | Rating value | Notch value assigned by the credit rating agency as a result of the rating action. | Mandatory.
  Applicable for ‘Action type’ = ‘NW’ or ‘UP’ or ‘AF’ or ‘DG’ or ‘PR’ or ‘OR’ | Valid ‘Notch value’, previously reported in the ‘Rating scale’ table. | Public |
| 17 | Location of the rating issuance | Specifies the location of the issuance of the credit ratings by: ratings issued in the Union by a registered credit rating agency, ratings issued by third country credit rating agency belonging to the same group of credit rating agencies and endorsed in the Union, ratings issued by certified credit rating agencies or ratings issued by third country credit rating agency belonging to the same group of credit rating agencies but not endorsed in the Union. | Mandatory. | I — issued in the Union
  E — endorsed
  T — issued in a third country by a certified CRA
  O — other (not endorsed)
  N — not available (only valid before 1.1.2011). | Public |
| 18 | Lead analyst identifier | Unique identifier of the lead analyst responsible for the rating. Should be reported only for the ratings issued in the Union. | Mandatory.
  Applicable for ‘Location of the rating issuance ’ = ‘I’. | Valid ‘Lead analyst internal identifier’, previously reported in the ‘Lead analysts list’. | Supervision only |
| 19 | Country of the lead analyst | Identifies the country of the office where the responsible lead analyst was located when issuing the rating. | Mandatory.
  Applicable for ‘Location of the rating issuance ’ = ‘I’. | ISO 3166-1 code. | Supervision only |
| 20 | Solicitation status | Solicitation status of the rated entity/instrument. | Mandatory. | S — if the rating is solicited,
  U — if the rating is unsolicited without participation
  P — if the rating is unsolicited with participation. | Public |
| 21 | Press release | Press release | Specifies if the rating action was accompanied by a press release. | Mandatory.
  Applicable for ‘Type of rating for ERP’ = ‘NXI’. | Y — yes
  N — no. | Public |
| 22 | Press release language | Indicates the language in which the press release was issued. | Mandatory.
  Applicable for ‘Press release’ = ‘Y’. | ISO 639-1 | Public |
| 23 | Press release file name | Indicates the file name under which the press release was reported. | Mandatory.
  Applicable for ‘Press release’ = ‘Y’. | ESMA standard | Public |
| 24 | Link to press release | Where the rating action is accompanied by the same press release as another rating action, it should state the ‘Action identifier’ for the action for which the common press release was firstly submitted. | Mandatory.
  Applicable for press releases that relate to more than one rating action. | Valid ‘Action identifier’ | Technical |
| 25 | Research report | Research report | Specifies if the rating action was accompanied by a research report. Applicable only for sovereign ratings reported under the sector: ‘SV’ or ‘SM’ or ‘IF’ | Mandatory.
  Applicable for ‘Rating type’ = ‘S’ and ‘Sector’ = ‘SV’ or ‘SM’ or ‘IF’ | Y — yes
  N — no | Public |
| 26 | Research report language | Indicates the language under which the research report was issued. | Mandatory.
  Applicable for ‘Sovereign Research Report’ = ‘Y’ | ISO 639-1 | Public |
| 27 | Research report file name | Indicates the file name under which the research report was reported. | Mandatory.
  Applicable for ‘Sovereign Research Report’ = ‘Y’ | ESMA standard | Public |
| 28 | Link to research report | Where the rating is accompanied by the same research report as another rating action, it should state the ‘Action identifier’ for the action for which the common research report was firstly submitted. | Optional. | Valid ‘Action identifier’ | Technical |

No

Field name

Description

Type

Standard

Scope

1

Rating action identifier

Unique identifier of the rating action. Rating action identifier shall be unique per each reported rating.

Mandatory.

Technical

2

Rating identifier

Unique identifier of the rating.

Mandatory.

Should be a valid ‘Rating identifier’ reported in Table 1 of Part 2

Technical

3

Action validity date and time

The date and time of validity of the action. This shall coincide with the Coordinated Universal Time (UTC) of publication of the action or distribution by subscription.

Mandatory.

ISO 8601 extended date time format: YYYY-MM-DD (HH:MM:SS)

Public

4

Action communication date and time

The date and time of communication of the action to the rated entity.

It shall be expressed as Coordinated Universal Time (UTC). Should be reported only for the ratings issued in the Union.

Mandatory.

Applicable for ‘Location of the rating issuance ’ = ‘I’.

ISO 8601 extended date time format: YYYY-MM-DD (HH:MM:SS)

Supervision only

5

Action decision date

Identifies the date when the action is decided.

It shall be the date of preliminary approval (such as by the rating committee) of the action where this is then communicated to the rated entity before final approval.

Should be reported only for the ratings issued in the Union.

Mandatory.

Applicable for ‘Location of the rating issuance ’ = ‘I’.

ISO 8601 date format: (YYYY-MM-DD)

Supervision only

6

Action type

Identifies the type of action carried out by the credit rating agency with respect to a specific rating.

Mandatory.

OR — in case of outstanding rating (only for first time reporting)

PR — in case of preliminary rating

NW — in case the rating is issued for the first time

UP — in case the rating is upgraded

DG — in case the rating is downgraded

AF — in case the rating is affirmed

DF — in case a rated issuer or instrument is assigned to or removed from a default status and the default is not linked with another rating action

SP — in case the rating is suspended

WD — in case the rating is withdrawn

OT — in case the rating is placed to or removed from the outlook/trend status

WR — in case the rating is placed to or removed from the watch/review status

Public

7

Outlook/watch/default status

An outlook/watch/suspension/default status is assigned, kept or removed with respect to the rating,

Mandatory.

Applicable for ‘Action type’ = ‘OT’,’WR’, ‘DF’, ‘SP’ or ‘OR’

P — status is placed

M — status is maintained

R — status is removed

Public

8

Outlook

Identifies the outlook/trend assigned to a rating by the CRA according to its relevant policy.

Mandatory.

Applicable for ‘Action type’ = ‘OT’ and ‘OR’

POS — in case of a positive outlook

NEG — in case of a negative outlook

EVO — in case of an evolving or developing outlook

STA — in case of a stable outlook

Public

9

Watch/Review

Identifies the watch or review status assigned to a rating by the CRA according to its relevant policy.

Mandatory.

Applicable for ‘Action type’ = ‘WR’ and ‘OR’

POW — in case of a positive watch/review

NEW — in case of a negative watch/review

EVW — in case of an evolving or developing watch/review

UNW — in case of a watch/review with uncertain direction

Public

10

Watch/Review determinant

Identifies the reason for the watch/review status of a rating. Should be reported only for the ratings issued in the Union.

Mandatory.

Applicable for ‘Action type’ = ‘WR’ and ‘OR’ and ‘Location of the rating issuance ’ = ‘I’.

1 — where the watch/review status is due to changes in methodologies, models or key rating assumptions

2 — where the watch/review status is due to economic, financial or credit reasons

3 — where the watch or review status is due to other reasons (e.g. departure of analysts, occurrence of conflicts of interests)

Public

11

Withdrawal reason

Identifies the reason of a withdrawal action.

Mandatory.

Applicable for ‘Action Type’ = ‘WD’

1 — in case of incorrect or insufficient information on issuer/issue

2 — in case of bankruptcy of the rated entity or debt restructuring

3 — in case of reorganisation of rated entity (including the merger or acquisition of the rated entity)

4 — in case of the end of maturity of the debt obligation, or in case the debt is redeemed, called, prefunded, cancelled

5 — in case of automatic invalidity of rating due to business model of CRA (such as expiry of ratings valid for a predetermined period)

6 — in case of rating withdrawal due to other reasons

7 — in case the rating is affected by one of the points specified in Annex I, Section B, Point 3 of the Regulation (EC) No 1060/2009

8 — in case of client’s request

Public

12

Other withdrawal reason

Where the rating was withdrawn due to other reasons than the ones provided, please specify the reason

Mandatory.

Applicable for ‘Withdrawal reason’ = 6

Supervision only

13

Default flag

Where the rated entity or the financial instrument is defaulted or removed from default as a result of another rating action (i.e.: upgrade, downgrade)

Mandatory.

Applicable for ‘Action type’ = ‘AF’, ‘DG’, ‘UP’ or ‘OR’

Y — yes

N — no

Public

14

Suspension reason

Specifies the reason for a suspension action.

Mandatory.

Applicable for ‘Action type’ = ‘SP’

Public

15

Rating scale identifier

Identifies the rating scale used for issuing the rating action.

Mandatory.

Applicable for ‘Action type’ = ‘NW’ or ‘UP’ or ‘AF’ or ‘DG’ or ‘PR’ or ‘OR’

Valid ‘Rating scale identifier’, previously reported in the ‘Rating scale’ table.

Public

16

Rating value

Notch value assigned by the credit rating agency as a result of the rating action.

Mandatory.

Applicable for ‘Action type’ = ‘NW’ or ‘UP’ or ‘AF’ or ‘DG’ or ‘PR’ or ‘OR’

Valid ‘Notch value’, previously reported in the ‘Rating scale’ table.

Public

17

Location of the rating issuance

Specifies the location of the issuance of the credit ratings by: ratings issued in the Union by a registered credit rating agency, ratings issued by third country credit rating agency belonging to the same group of credit rating agencies and endorsed in the Union, ratings issued by certified credit rating agencies or ratings issued by third country credit rating agency belonging to the same group of credit rating agencies but not endorsed in the Union.

Mandatory.

I — issued in the Union

E — endorsed

T — issued in a third country by a certified CRA

O — other (not endorsed)

N — not available (only valid before 1.1.2011).

Public

18

Lead analyst identifier

Unique identifier of the lead analyst responsible for the rating. Should be reported only for the ratings issued in the Union.

Mandatory.

Applicable for ‘Location of the rating issuance ’ = ‘I’.

Valid ‘Lead analyst internal identifier’, previously reported in the ‘Lead analysts list’.

Supervision only

19

Country of the lead analyst

Identifies the country of the office where the responsible lead analyst was located when issuing the rating.

Mandatory.

Applicable for ‘Location of the rating issuance ’ = ‘I’.

ISO 3166-1 code.

Supervision only

20

Solicitation status

Solicitation status of the rated entity/instrument.

Mandatory.

S — if the rating is solicited,

U — if the rating is unsolicited without participation

P — if the rating is unsolicited with participation.

Public

21

Press release

Press release

Specifies if the rating action was accompanied by a press release.

Mandatory.

Applicable for ‘Type of rating for ERP’ = ‘NXI’.

Y — yes

N — no.

Public

22

Press release language

Indicates the language in which the press release was issued.

Mandatory.

Applicable for ‘Press release’ = ‘Y’.

ISO 639-1

Public

23

Press release file name

Indicates the file name under which the press release was reported.

Mandatory.

Applicable for ‘Press release’ = ‘Y’.

ESMA standard

Public

24

Link to press release

Where the rating action is accompanied by the same press release as another rating action, it should state the ‘Action identifier’ for the action for which the common press release was firstly submitted.

Mandatory.

Applicable for press releases that relate to more than one rating action.

Valid ‘Action identifier’

Technical

25

Research report

Research report

Specifies if the rating action was accompanied by a research report. Applicable only for sovereign ratings reported under the sector: ‘SV’ or ‘SM’ or ‘IF’

Mandatory.

Applicable for ‘Rating type’ = ‘S’ and ‘Sector’ = ‘SV’ or ‘SM’ or ‘IF’

Y — yes

N — no

Public

26

Research report language

Indicates the language under which the research report was issued.

Mandatory.

Applicable for ‘Sovereign Research Report’ = ‘Y’

ISO 639-1

Public

27

Research report file name

Indicates the file name under which the research report was reported.

Mandatory.

Applicable for ‘Sovereign Research Report’ = ‘Y’

ESMA standard

Public

28

Link to research report

Where the rating is accompanied by the same research report as another rating action, it should state the ‘Action identifier’ for the action for which the common research report was firstly submitted.

Optional.

Valid ‘Action identifier’

Technical

---

ANNEX II

Correlation table

| This Regulation | Regulation (EU) No 446/2012 | Regulation (EU) No 448/2012 |
| --- | --- | --- |
| Article 1(1) | | Article 3(1) |
| Article 1(2) | Article 2(1) | Article 2(2) |
| Article 1(3) | Article 2(6) | |
| Article 1(4) | Article 2(2) | Article 2(3) |
| Article 1(5) | | Article 3(3) |
| Article 1(6) | | Article 3(2) |
| Article 2(1) | | Article 8(2) |
| Article 2(2) | | Article 8(3) |
| Article 3 | Article 4(1) | Article 3(5) |
| Article 4 | Article 4(3) | Article 4 |
| Article 5 | Article 4(2) | Article 5 |
| Article 6 | | Article 6 |
| Article 7 | | |
| Article 8 | | |
| Article 9(1) | Article 3(2) | |
| Article 9(2) | Article 2(3) | |
| Article 9(3) | Article 2(4) | |
| Article 9(4) | Article 2(5) | |
| Article 9(5) | Article 3(3) | |
| Article 10 | | |
| Article 11(1) to (3) | | |
| Article 11(4) | | Article 3(4) |
| Article 12 | Article 3(1) and (4) | Article 2(1) and Article 7 and Article 8(1) |
| Article 13 | Article 5 | Article 9, Article 10, Article 11, Article 12 and Article 13 |
| Article 14 | | |
| Article 15 | Article 6 | Article 14 |

This Regulation

Regulation (EU) No 446/2012

Regulation (EU) No 448/2012

Article 1(1)

Article 3(1)

Article 1(2)

Article 2(1)

Article 2(2)

Article 1(3)

Article 2(6)

Article 1(4)

Article 2(2)

Article 2(3)

Article 1(5)

Article 3(3)

Article 1(6)

Article 3(2)

Article 2(1)

Article 8(2)

Article 2(2)

Article 8(3)

Article 3

Article 4(1)

Article 3(5)

Article 4

Article 4(3)

Article 4

Article 5

Article 4(2)

Article 5

Article 6

Article 6

Article 7

Article 8

Article 9(1)

Article 3(2)

Article 9(2)

Article 2(3)

Article 9(3)

Article 2(4)

Article 9(4)

Article 2(5)

Article 9(5)

Article 3(3)

Article 10

Article 11(1) to (3)

Article 11(4)

Article 3(4)

Article 12

Article 3(1) and (4)

Article 2(1) and Article 7 and Article 8(1)

Article 13

Article 5

Article 9, Article 10, Article 11, Article 12 and Article 13

Article 14

Article 15

Article 6

Article 14

---

| 6.1.2015 | EN | Official Journal of the European Union | L 2/57 |
| --- | --- | --- | --- |

6.1.2015

EN

Official Journal of the European Union

L 2/57

---

COMMISSION DELEGATED REGULATION (EU) 2015/3

of 30 September 2014

supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on disclosure requirements for structured finance instruments

(Text with EEA relevance)

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies (1), and in particular the third subparagraph of Article 8b(3) thereof,

Whereas:

| (1) | In accordance with Article 8b of Regulation (EC) No 1060/2009, investors should receive sufficient information on the quality and performance of their underlying assets with a view to enabling them to perform an informed assessment of the creditworthiness of structured finance instruments. This would also reduce investors’ dependence on credit ratings and should facilitate the issuance of unsolicited credit ratings. |
| --- | --- |

(1)

In accordance with Article 8b of Regulation (EC) No 1060/2009, investors should receive sufficient information on the quality and performance of their underlying assets with a view to enabling them to perform an informed assessment of the creditworthiness of structured finance instruments. This would also reduce investors’ dependence on credit ratings and should facilitate the issuance of unsolicited credit ratings.

| (2) | This Regulation should apply to all financial instruments or other assets resulting from a securitisation transaction or scheme referred to in Article 4(1)(61) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (2) on condition that the issuer, originator or sponsor, is established, and for that purpose has its statutory seat, in the Union. Therefore, this Regulation should only cover financial instruments or other assets resulting from any transaction or scheme whereby the credit risk associated with an exposure or pool of exposures is tranched and has the characteristics referred to in that Article. Therefore, in line with that Regulation, an exposure that creates a direct payment obligation for a transaction or scheme used to finance or operate physical assets should not be considered an exposure to a securitisation, even if the transaction or scheme has payment obligations of different seniority. |
| --- | --- |

(2)

This Regulation should apply to all financial instruments or other assets resulting from a securitisation transaction or scheme referred to in Article 4(1)(61) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (2) on condition that the issuer, originator or sponsor, is established, and for that purpose has its statutory seat, in the Union. Therefore, this Regulation should only cover financial instruments or other assets resulting from any transaction or scheme whereby the credit risk associated with an exposure or pool of exposures is tranched and has the characteristics referred to in that Article. Therefore, in line with that Regulation, an exposure that creates a direct payment obligation for a transaction or scheme used to finance or operate physical assets should not be considered an exposure to a securitisation, even if the transaction or scheme has payment obligations of different seniority.

| (3) | The scope of this Regulation should not be limited to the issuance of structured finance instruments that qualify as securities, but also should include other financial instruments and assets resulting from a securitisation transaction or scheme, such as money-market instruments, including asset-backed commercial paper programmes. In addition, this Regulation should apply to structured finance instruments with and without credit ratings assigned by a credit rating agency registered in the Union. Private and bilateral transactions should also be within the scope of this Regulation, as well as transactions that are not offered to the public or admitted to trading on a regulated market. |
| --- | --- |

(3)

The scope of this Regulation should not be limited to the issuance of structured finance instruments that qualify as securities, but also should include other financial instruments and assets resulting from a securitisation transaction or scheme, such as money-market instruments, including asset-backed commercial paper programmes. In addition, this Regulation should apply to structured finance instruments with and without credit ratings assigned by a credit rating agency registered in the Union. Private and bilateral transactions should also be within the scope of this Regulation, as well as transactions that are not offered to the public or admitted to trading on a regulated market.

| (4) | This Regulation contains standardised disclosure templates for a number of asset class categories. Without prejudice to the scope of this Regulation and until reporting obligations have been developed by ESMA and adopted by the Commission, those standardised disclosure templates and all reporting obligations under this Regulation should apply only to structured finance instruments that are backed by underlying assets which are included in the list of underlying asset class categories specified in this Regulation and which in addition are not of a private or bilateral nature. |
| --- | --- |

(4)

This Regulation contains standardised disclosure templates for a number of asset class categories. Without prejudice to the scope of this Regulation and until reporting obligations have been developed by ESMA and adopted by the Commission, those standardised disclosure templates and all reporting obligations under this Regulation should apply only to structured finance instruments that are backed by underlying assets which are included in the list of underlying asset class categories specified in this Regulation and which in addition are not of a private or bilateral nature.

| (5) | When complying with this Regulation, issuers, originators and sponsors should comply with national and Union legislation governing the protection of confidentiality of information sources or the processing of personal data in order to avoid potential breaches of such legislation. |
| --- | --- |

(5)

When complying with this Regulation, issuers, originators and sponsors should comply with national and Union legislation governing the protection of confidentiality of information sources or the processing of personal data in order to avoid potential breaches of such legislation.

| (6) | The issuer, originator and sponsor may designate an entity responsible for reporting the information to the website to be set up by ESMA in accordance with Article 8b(4) of Regulation (EC) No 1060/2009 (the SFIs website). Outsourcing the reporting obligation to another entity, for example a servicer, should also be possible. This should be without prejudice to the responsibility of the issuer, originator and sponsor under this Regulation. |
| --- | --- |

(6)

The issuer, originator and sponsor may designate an entity responsible for reporting the information to the website to be set up by ESMA in accordance with Article 8b(4) of Regulation (EC) No 1060/2009 (the SFIs website). Outsourcing the reporting obligation to another entity, for example a servicer, should also be possible. This should be without prejudice to the responsibility of the issuer, originator and sponsor under this Regulation.

| (7) | A number of technical reporting instructions concerning, among others, the transmission or the format of the files to be submitted by issuers, originators and sponsors should be communicated by ESMA on its website. ESMA should communicate those technical reporting instructions in due course before the date of application of the reporting obligations laid down in this Regulation, in order to enable issuers, originators, sponsors and other parties involved to be given enough time to develop adequate systems and procedures following the technical instructions provided by ESMA. |
| --- | --- |

(7)

A number of technical reporting instructions concerning, among others, the transmission or the format of the files to be submitted by issuers, originators and sponsors should be communicated by ESMA on its website. ESMA should communicate those technical reporting instructions in due course before the date of application of the reporting obligations laid down in this Regulation, in order to enable issuers, originators, sponsors and other parties involved to be given enough time to develop adequate systems and procedures following the technical instructions provided by ESMA.

| (8) | The information to be provided pursuant to this Regulation should be compiled in a standard format to allow for automatic processing of the data on the SFIs website. The information should also be published in a format that is easily accessible for any user of the SFIs website. ESMA should ensure that sectoral competent authorities have access to the SFIs website so as to carry out the tasks assigned to them under Regulation (EC) No 1060/2009. |
| --- | --- |

(8)

The information to be provided pursuant to this Regulation should be compiled in a standard format to allow for automatic processing of the data on the SFIs website. The information should also be published in a format that is easily accessible for any user of the SFIs website. ESMA should ensure that sectoral competent authorities have access to the SFIs website so as to carry out the tasks assigned to them under Regulation (EC) No 1060/2009.

| (9) | This Regulation is based on the draft regulatory technical standards submitted by ESMA to the Commission in accordance with Article 10 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (3). |
| --- | --- |

(9)

This Regulation is based on the draft regulatory technical standards submitted by ESMA to the Commission in accordance with Article 10 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (3).

| (10) | ESMA has conducted an open public consultation on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010. |
| --- | --- |

(10)

ESMA has conducted an open public consultation on the draft regulatory technical standards on which this Regulation is based, analysed the potential related costs and benefits and requested the opinion of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010.

| (11) | A reasonable time is necessary in order to allow the issuers, the originators and the sponsors of a structured finance instrument established in the Union to adapt and take the necessary steps to comply with this Regulation and to allow ESMA to develop the SFIs website on which disclosure of the information required by this Regulation should take place. Therefore, this Regulation should apply from 1 January 2017. However, ESMA should communicate necessary technical reporting instructions in a timely manner before the date of application of this Regulation. This is necessary in order to enable the issuers, the originators and the sponsors of a structured finance instrument established in the Union to be given enough time to develop adequate systems and procedures following those technical instructions with a view to ensuring complete and correct reporting and to take into account further developments in the financial markets in the Union, |
| --- | --- |

(11)

A reasonable time is necessary in order to allow the issuers, the originators and the sponsors of a structured finance instrument established in the Union to adapt and take the necessary steps to comply with this Regulation and to allow ESMA to develop the SFIs website on which disclosure of the information required by this Regulation should take place. Therefore, this Regulation should apply from 1 January 2017. However, ESMA should communicate necessary technical reporting instructions in a timely manner before the date of application of this Regulation. This is necessary in order to enable the issuers, the originators and the sponsors of a structured finance instrument established in the Union to be given enough time to develop adequate systems and procedures following those technical instructions with a view to ensuring complete and correct reporting and to take into account further developments in the financial markets in the Union,

HAS ADOPTED THIS REGULATION:

Article 1

Scope

This Regulation shall apply to structured finance instruments where the issuer, the originator or the sponsor is established in the Union and which are issued after the date of entry into force of this Regulation.

Article 2

Reporting entity

1.   The issuer, the originator and the sponsor of a structured finance instrument may designate one or multiple reporting entities that publish the information required pursuant to Articles 3 and 4, and Article 5(3) of this Regulation on the website referred to in Article 8b(4) of Regulation (EC) No 1060/2009 (the SFIs website). Those entities shall publish the required information on the SFIs website in accordance with Articles 4 to 7 of this Regulation.

2.   The issuer, the originator and the sponsor of a structured finance instrument that has designated the entity or entities referred to in paragraph 1 shall notify ESMA without undue delay of any entity designated in accordance with that paragraph. That designation shall be without prejudice to the responsibility of the issuer, the originator and the sponsor to comply with Article 8b of Regulation (EC) No 1060/2009.

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; |
| --- | --- |

(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; |
| --- | --- | --- |

(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; |
| --- | --- |

(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; |
| --- | --- |

(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; |
| --- | --- |

(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; |
| --- | --- |

(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; |
| --- | --- |

(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; |
| --- | --- | --- |

(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; |
| --- | --- |

(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; |
| --- | --- |

(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; |
| --- | --- |

(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; |
| --- | --- |

(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. |
| --- | --- |

(d)

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

Article 4

Underlying assets

The information requirements set out in Article 3 shall apply to structured finance instruments backed by the following underlying assets:

| (a) | residential mortgages: this class of structured finance instruments includes structured finance instruments backed by prime and non-prime mortgages and home equity loans. For this class of structured finance instruments, the information included in the template in Annex I shall be provided to the SFIs website; |
| --- | --- |

(a)

residential mortgages: this class of structured finance instruments includes structured finance instruments backed by prime and non-prime mortgages and home equity loans. For this class of structured finance instruments, the information included in the template in Annex I shall be provided to the SFIs website;

| (b) | commercial mortgages: this class of structured finance instruments includes structured finance instruments backed by retail or office property loans, hospital loans, care residences, storage facilities, hotel loans, nursing facilities, industrial loans, and multifamily properties. For this class of structured finance instruments, the information included in the template in Annex II shall be provided to the SFIs website; |
| --- | --- |

(b)

commercial mortgages: this class of structured finance instruments includes structured finance instruments backed by retail or office property loans, hospital loans, care residences, storage facilities, hotel loans, nursing facilities, industrial loans, and multifamily properties. For this class of structured finance instruments, the information included in the template in Annex II shall be provided to the SFIs website;

| (c) | loans to small and medium-sized enterprises: for this class of structured finance instruments, the information included in the template in Annex III shall be provided to the SFIs website; |
| --- | --- |

(c)

loans to small and medium-sized enterprises: for this class of structured finance instruments, the information included in the template in Annex III shall be provided to the SFIs website;

| (d) | auto-loans: for this class of structured finance instruments, the information included in the template in Annex IV shall be provided to the SFIs website; |
| --- | --- |

(d)

auto-loans: for this class of structured finance instruments, the information included in the template in Annex IV shall be provided to the SFIs website;

| (e) | consumer loans: for this class of structured finance instruments, the information included in the template in Annex V shall be provided to the SFIs website; |
| --- | --- |

(e)

consumer loans: for this class of structured finance instruments, the information included in the template in Annex V shall be provided to the SFIs website;

| (f) | credit card-loans: for this class of structured finance instruments, the information included in the template in Annex VI shall be provided to the SFIs website; |
| --- | --- |

(f)

credit card-loans: for this class of structured finance instruments, the information included in the template in Annex VI shall be provided to the SFIs website;

| (g) | leases to individuals and/or businesses: for this class of structured finance instruments, the information included in the template in Annex VII shall be provided to the SFIs website. |
| --- | --- |

(g)

leases to individuals and/or businesses: for this class of structured finance instruments, the information included in the template in Annex VII shall be provided to the SFIs website.

Article 5

Frequency of reporting

1.   The information set out in Article 3(a) and (d) shall be made available on a quarterly basis, no later than one month following the due date for payment of interest on the structured finance instrument concerned.

2.   The information set out in Article 3(b) and (c) shall be made available without delay after the issuance of a structured finance instrument.

3.   In addition to the requirements set out in paragraphs 1 and 2:

| (a) | where the requirements laid down in Article 17 of Regulation (EU) No 596/2014 of the European Parliament and of the Council (5) on insider dealing and market manipulation (market abuse) apply also in relation to a structured finance instrument, any disclosure of information pursuant to that article shall also subsequently be published without delay on the SFIs website by the reporting entity; |
| --- | --- |

(a)

where the requirements laid down in Article 17 of Regulation (EU) No 596/2014 of the European Parliament and of the Council (5) on insider dealing and market manipulation (market abuse) apply also in relation to a structured finance instrument, any disclosure of information pursuant to that article shall also subsequently be published without delay on the SFIs website by the reporting entity;

| (b) | where point (a) does not apply, the reporting entity shall disclose without delay on the SFIs website any significant change or event in any of the following cases:






  (i) | a breach of the obligations laid down in the documents provided in accordance with Article 3(b); |
| --- | --- | --- |

(b)

where point (a) does not apply, the reporting entity shall disclose without delay on the SFIs website any significant change or event in any of the following cases:

(i)

a breach of the obligations laid down in the documents provided in accordance with Article 3(b);

| (ii) | structural features that can materially impact on the performance of the structured finance instrument; |
| --- | --- |

(ii)

structural features that can materially impact on the performance of the structured finance instrument;

| (iii) | the risk characteristics of the structured finance instrument and of the underlying assets. |
| --- | --- |

(iii)

the risk characteristics of the structured finance instrument and of the underlying assets.

Article 6

Reporting procedures

1.   The reporting entity shall submit data files in accordance with the reporting system of the SFIs website and the technical instructions to be provided by ESMA on its website.

2.   ESMA shall publish those technical instructions on its website at the latest on 1 July 2016.

3.   The reporting entity shall store the files sent to and received by the SFIs website in electronic form for at least five years. Upon request, those files shall be made available by the reporting entity or the issuer, the originator or the sponsor to the sectoral competent authorities as defined in Article 3(1)(r) of Regulation (EC) No 1060/2009.

4.   Where the reporting entity or the issuer, the originator or the sponsor, identifies factual errors in the data that has been provided to the SFIs website they shall correct the relevant data without undue delay.

Article 7

Reporting between the date of entry into force and the date of application

1.   With respect to the structured finance instruments issued in the time period between the date of entry into force and the date of application of this Regulation, the issuer, the originator and the sponsor shall comply with the reporting requirements laid down in this Regulation only in relation to the structured finance instruments which are still outstanding at the date of application of this Regulation.

2.   The issuer, the originator and the sponsor shall not be required to keep a backlog of the information required pursuant to this Regulation between the date of entry into force and the date of application of this Regulation.

Article 8

Entry into force

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

It shall apply from 1 January 2017.

However, Article 6(2) shall apply from the date of entry into force of this Regulation.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 30 September 2014.

For the Commission

The President

José Manuel BARROSO

---

(1)  OJ L 302, 17.11.2009, p. 1.

1

(2)  Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).

2

(3)  Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).

3

(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).

4

(5)  Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 173, 12.6.2014, p. 1).

5

---

ANNEX I

Reporting template for structured finance instruments backed by residential mortgages

ASSETS:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Pool Cut-off Date | Dynamic | Date | Pool or portfolio cut-off date. All dates take YYYY-MM-DD format. |
| Pool Identifier | Static | Text/Numeric | Pool or portfolio identifier/name of transaction. |
| Loan Identifier | Static | Text/Numeric | Unique identifier (ID) for each loan. The loan ID should not change through the life of the transaction. |
| Originator | Static | Text | Lender that advanced the original loan. |
| Servicer Identifier | Static | Text/Numeric | Unique identifier per servicer to flag which entity is servicing the loan. |
| Borrower Identifier | Static | Text/Numeric | Unique identifier (ID) per borrower (not showing the real name) — to enable borrowers with multiple loans in the pool to be identified (e.g. further advances/second liens are shown as separate entries). The borrower ID should not change over the life of the transaction. |
| Property Identifier | Static | Text/Numeric | Unique identifier per property to enable properties with multiple loans in the pool to be identified (e.g. further advances/second liens are shown as separate entries). |
| Borrower Information |
| Borrower’s Employment Status | Static | List | Employment status of the primary applicant. |
| Primary Income | Static | Numeric | Primary borrower underwritten gross annual income (not rent). |
| Income Verification for Primary Income | Static | List | Income verification for primary income. |
| Loan Characteristics |
| Loan Origination Date | Static | Date/Numeric | Date of original loan advance. |
| Date of Loan Maturity | Dynamic | Date/Numeric | The date of loan maturity. |
| Purpose | Static | List | Loan purpose. |
| Loan Term | Static | Numeric | Original contractual term (number of months). |
| Loan Currency Denomination | Static | List | The loan currency denomination. |
| Original Balance | Static | Numeric | Original loan balance (inclusive of fees). |
| Current Balance | Dynamic | Numeric | Amount of loan outstanding as of pool cut-off date, This should include any amounts that are secured by the mortgage and will be classed as principal in the transaction. |
| Repayment Method | Static | List | Type of principal repayment. |
| Payment Frequency | Static | List | Frequency of payments due, i.e. number of months between payments. |
| Payment Due | Dynamic | Numeric | Periodic contractual payment due (the payment due if there are no other payment arrangements in force). |
| Payment Type | Static | List | Principal payment type. |
| Interest Rate |
| Interest Rate Type | Static | List | Interest rate type. |
| Current Interest Rate Index | Dynamic | List | Current interest rate index (the reference rate off which the mortgage interest rate is set). |
| Current Interest Rate | Dynamic | Numeric | Current interest rate (%). |
| Current Interest Rate Margin | Dynamic | Numeric | Current interest rate margin (for fixed rate loans this is the same as the current interest rate, for floating rate loans this is the margin over (or under if input as a negative) the index rate). |
| Interest Rate Reset Interval | Dynamic | Numeric | The interval in months at which the interest rate is adjusted (for floating loans). |
| Revision Margin 1 | Dynamic | Numeric | The margin (%) for the loan at the first revision date. |
| Interest Revision Date 1 | Dynamic | Date/Numeric | Date interest rate next changes (e.g. discount margin changes, fixed period ends, loan re-fixed etc. This is not the next LIBOR reset date). |
| Revision Margin 2 | Dynamic | Numeric | The margin (%) for the loan at the second revision date. |
| Interest Revision Date 2 | Dynamic | Date/Numeric | Date of second interest rate change. |
| Revision Margin 3 | Dynamic | Numeric | The margin (%) for the loan at the third revision date. |
| Interest Revision Date 3 | Dynamic | Date/Numeric | Date of third interest rate change. |
| Revised Interest Rate Index | Dynamic | List | Next interest rate index. |
| Property and Additional Collateral |
| Property Postcode | Static | Text/Numeric | First two or three characters must be provided at a minimum. |
| Property Type | Static | List | Property type. |
| Original Loan to Value | Static | Numeric | Originator’s original underwritten Loan To Value ratio (LTV). For second lien loans this should be the combined or total LTV. |
| Valuation Amount | Static | Numeric | Property value as of date of latest loan advance prior to a securitisation. Valuation amounts should be in the same currency as the loan. |
| Original Valuation Type | Static | List | Valuation type at origination. |
| Valuation Date | Static | Date/Numeric | Date of latest property valuation at time of latest loan advance prior to a securitisation. |
| Current Loan to Value | Dynamic | Numeric | Originator’s current Loan to Value ratio (LTV). For second lien loans this should be the combined or total LTV. |
| Current Valuation Amount | Dynamic | Numeric | Most recent valuation amount (if, for example, at repossession there were multiple valuations, this should reflect the lowest). Valuation amounts should be in the same currency as the loan. |
| Current Valuation Type | Dynamic | List | Current valuation type. |
| Current Valuation Date | Dynamic | Date/Numeric | The date of most recent valuation. |
| Performance Information |
| Account Status | Dynamic | List | Current status of account. |
| Arrears Balance | Dynamic | Numeric | Current balance of arrears. Arrears defined as: total payments due to date LESS total payments received to date LESS any amounts capitalised. This should not include any fees applied to the account. |
| Number Months in Arrears | Dynamic | Numeric | Number of months this loan is in arrears (at pool cut-off date) according to the definition of the issuer. |
| Arrears 1 Month Ago | Dynamic | Numeric | Arrears balance (defined as per ‘arrears balance’) for the previous month. |
| Arrears 2 Months Ago | Dynamic | Numeric | Arrears balance (defined as per ‘arrears balance’) two months ago. |
| Litigation | Dynamic | Y/N | Flag to indicate litigation proceedings underway. |
| Redemption Date | Dynamic | Date/Numeric | Date on which account redeemed. |
| Default or Foreclosure | Dynamic | Numeric | Total default amount before the application of sale proceeds and recoveries. |
| Date of Default or Foreclosure | Dynamic | Numeric | The date of default or foreclosure. |
| Sale Price lower limit | Dynamic | Numeric | Price achieved on sale of property in case of foreclosure, rounded down to nearest 10k. |
| Loss on Sale | Dynamic | Numeric | Total loss net of fees, accrued interest etc. after application of sale proceeds (excluding prepayment charge if subordinate to principal recoveries). |
| Cumulative Recoveries | Dynamic | Numeric | Cumulative recoveries — only relevant for cases with losses. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Pool Cut-off Date

Dynamic

Date

Pool or portfolio cut-off date. All dates take YYYY-MM-DD format.

Pool Identifier

Static

Text/Numeric

Pool or portfolio identifier/name of transaction.

Loan Identifier

Static

Text/Numeric

Unique identifier (ID) for each loan. The loan ID should not change through the life of the transaction.

Originator

Static

Text

Lender that advanced the original loan.

Servicer Identifier

Static

Text/Numeric

Unique identifier per servicer to flag which entity is servicing the loan.

Borrower Identifier

Static

Text/Numeric

Unique identifier (ID) per borrower (not showing the real name) — to enable borrowers with multiple loans in the pool to be identified (e.g. further advances/second liens are shown as separate entries). The borrower ID should not change over the life of the transaction.

Property Identifier

Static

Text/Numeric

Unique identifier per property to enable properties with multiple loans in the pool to be identified (e.g. further advances/second liens are shown as separate entries).

Borrower Information

Borrower’s Employment Status

Static

List

Employment status of the primary applicant.

Primary Income

Static

Numeric

Primary borrower underwritten gross annual income (not rent).

Income Verification for Primary Income

Static

List

Income verification for primary income.

Loan Characteristics

Loan Origination Date

Static

Date/Numeric

Date of original loan advance.

Date of Loan Maturity

Dynamic

Date/Numeric

The date of loan maturity.

Purpose

Static

List

Loan purpose.

Loan Term

Static

Numeric

Original contractual term (number of months).

Loan Currency Denomination

Static

List

The loan currency denomination.

Original Balance

Static

Numeric

Original loan balance (inclusive of fees).

Current Balance

Dynamic

Numeric

Amount of loan outstanding as of pool cut-off date, This should include any amounts that are secured by the mortgage and will be classed as principal in the transaction.

Repayment Method

Static

List

Type of principal repayment.

Payment Frequency

Static

List

Frequency of payments due, i.e. number of months between payments.

Payment Due

Dynamic

Numeric

Periodic contractual payment due (the payment due if there are no other payment arrangements in force).

Payment Type

Static

List

Principal payment type.

Interest Rate

Interest Rate Type

Static

List

Interest rate type.

Current Interest Rate Index

Dynamic

List

Current interest rate index (the reference rate off which the mortgage interest rate is set).

Current Interest Rate

Dynamic

Numeric

Current interest rate (%).

Current Interest Rate Margin

Dynamic

Numeric

Current interest rate margin (for fixed rate loans this is the same as the current interest rate, for floating rate loans this is the margin over (or under if input as a negative) the index rate).

Interest Rate Reset Interval

Dynamic

Numeric

The interval in months at which the interest rate is adjusted (for floating loans).

Revision Margin 1

Dynamic

Numeric

The margin (%) for the loan at the first revision date.

Interest Revision Date 1

Dynamic

Date/Numeric

Date interest rate next changes (e.g. discount margin changes, fixed period ends, loan re-fixed etc. This is not the next LIBOR reset date).

Revision Margin 2

Dynamic

Numeric

The margin (%) for the loan at the second revision date.

Interest Revision Date 2

Dynamic

Date/Numeric

Date of second interest rate change.

Revision Margin 3

Dynamic

Numeric

The margin (%) for the loan at the third revision date.

Interest Revision Date 3

Dynamic

Date/Numeric

Date of third interest rate change.

Revised Interest Rate Index

Dynamic

List

Next interest rate index.

Property and Additional Collateral

Property Postcode

Static

Text/Numeric

First two or three characters must be provided at a minimum.

Property Type

Static

List

Property type.

Original Loan to Value

Static

Numeric

Originator’s original underwritten Loan To Value ratio (LTV). For second lien loans this should be the combined or total LTV.

Valuation Amount

Static

Numeric

Property value as of date of latest loan advance prior to a securitisation. Valuation amounts should be in the same currency as the loan.

Original Valuation Type

Static

List

Valuation type at origination.

Valuation Date

Static

Date/Numeric

Date of latest property valuation at time of latest loan advance prior to a securitisation.

Current Loan to Value

Dynamic

Numeric

Originator’s current Loan to Value ratio (LTV). For second lien loans this should be the combined or total LTV.

Current Valuation Amount

Dynamic

Numeric

Most recent valuation amount (if, for example, at repossession there were multiple valuations, this should reflect the lowest). Valuation amounts should be in the same currency as the loan.

Current Valuation Type

Dynamic

List

Current valuation type.

Current Valuation Date

Dynamic

Date/Numeric

The date of most recent valuation.

Performance Information

Account Status

Dynamic

List

Current status of account.

Arrears Balance

Dynamic

Numeric

Current balance of arrears. Arrears defined as: total payments due to date LESS total payments received to date LESS any amounts capitalised. This should not include any fees applied to the account.

Number Months in Arrears

Dynamic

Numeric

Number of months this loan is in arrears (at pool cut-off date) according to the definition of the issuer.

Arrears 1 Month Ago

Dynamic

Numeric

Arrears balance (defined as per ‘arrears balance’) for the previous month.

Arrears 2 Months Ago

Dynamic

Numeric

Arrears balance (defined as per ‘arrears balance’) two months ago.

Litigation

Dynamic

Y/N

Flag to indicate litigation proceedings underway.

Redemption Date

Dynamic

Date/Numeric

Date on which account redeemed.

Default or Foreclosure

Dynamic

Numeric

Total default amount before the application of sale proceeds and recoveries.

Date of Default or Foreclosure

Dynamic

Numeric

The date of default or foreclosure.

Sale Price lower limit

Dynamic

Numeric

Price achieved on sale of property in case of foreclosure, rounded down to nearest 10k.

Loss on Sale

Dynamic

Numeric

Total loss net of fees, accrued interest etc. after application of sale proceeds (excluding prepayment charge if subordinate to principal recoveries).

Cumulative Recoveries

Dynamic

Numeric

Cumulative recoveries — only relevant for cases with losses.

BOND INFO:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Fields at Security or Bond Level Data |
| Report Date | Dynamic | Date | The date on which the transaction report was issued. All dates take YYYY-MM-DD format. |
| Issuer | Static | Text | Name of issuer and issue series, if applicable. |
| Drawings under Liquidity Facility | Dynamic | Y/N | Confirm whether or not there has been a drawing under the liquidity facility in the period ending on the last interest payment date. |
| Fields at Collateral Level Data |
| Trigger Measurements/Ratios | Dynamic | Y/N | The status of various delinquency, dilution, default, loss and similar collateral measurements and ratios in relation to their early amortisation or other trigger event levels, as at the current determination date. Has any trigger event occurred? |
| Average Constant Pre-payment Rate | Dynamic | Numeric | The report shall include the Average (Avg) Constant Pre-payment Rate (CPR) speed of the underlying residential mortgage loans. In some jurisdictions, the mortgage pool may also include commercial loans. Avg CPR speed is the amount expressed as an annualised percentage of principal prepaid in excess of scheduled repayments. The Avg CPR speed is calculated by first dividing the Current Residential Mortgage Loan Principal Balance (i.e. the actual balance) by the Scheduled Residential Mortgage Loan Principal Balance assuming no pre-payments have been made (i.e. only scheduled repayments have been made). This quotient is then raised to a power whereby the exponent is the quantity twelve divided by the number of months since issue. Subtract this result from one then multiply it by one hundred (100) to determine the Avg CPR speed. This calculation is expressed as follows: |
| Transaction Report Contact Information |
| Point Contact | Static | Text | Name of the department or the point person(s) of the information sources. |
| Contact Information | Static | Text | Telephone number and e-mail address. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Fields at Security or Bond Level Data

Report Date

Dynamic

Date

The date on which the transaction report was issued. All dates take YYYY-MM-DD format.

Issuer

Static

Text

Name of issuer and issue series, if applicable.

Drawings under Liquidity Facility

Dynamic

Y/N

Confirm whether or not there has been a drawing under the liquidity facility in the period ending on the last interest payment date.

Fields at Collateral Level Data

Trigger Measurements/Ratios

Dynamic

Y/N

The status of various delinquency, dilution, default, loss and similar collateral measurements and ratios in relation to their early amortisation or other trigger event levels, as at the current determination date. Has any trigger event occurred?

Average Constant Pre-payment Rate

Dynamic

Numeric

The report shall include the Average (Avg) Constant Pre-payment Rate (CPR) speed of the underlying residential mortgage loans. In some jurisdictions, the mortgage pool may also include commercial loans. Avg CPR speed is the amount expressed as an annualised percentage of principal prepaid in excess of scheduled repayments. The Avg CPR speed is calculated by first dividing the Current Residential Mortgage Loan Principal Balance (i.e. the actual balance) by the Scheduled Residential Mortgage Loan Principal Balance assuming no pre-payments have been made (i.e. only scheduled repayments have been made). This quotient is then raised to a power whereby the exponent is the quantity twelve divided by the number of months since issue. Subtract this result from one then multiply it by one hundred (100) to determine the Avg CPR speed. This calculation is expressed as follows:

Formula

Transaction Report Contact Information

Point Contact

Static

Text

Name of the department or the point person(s) of the information sources.

Contact Information

Static

Text

Telephone number and e-mail address.

BOND INFO BY TRANCHE:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Fields at Tranche Level |
| Bond Class Name | Static | Text/Numeric | The designation (typically a letter and/or number) given to a tranche of RMBS which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1 Class A1 etc. |
| International Securities Identification Number | Static | Text/Numeric | The international security identification code or codes, or if no ISIN, then any other unique securities code such as a CUSIP, assigned to this tranche by an exchange or other entity. If more than one code, enter comma-delimited. |
| Interest Payment Date | Dynamic | Date | The periodic date on which a payment of interest to holders of a specific tranche of residential mortgage backed structured finance instrument is scheduled to occur. |
| Principal Payment Date | Dynamic | Date | The periodic date on which a payment of principal to holders of a specific tranche of residential mortgage backed structured finance instrument is scheduled to occur. |
| Currency | Static | Text | The unit(s) of exchange in which security-level balance(s) and payments are reported. |
| Reference Rate | Static | List | The base reference interest index as defined in the offering document (e.g. three months Euribor) applicable to a specific tranche of residential mortgage backed structured finance instrument. |
| Bond Issue Date | Static | Date | Date the bonds were issued. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Fields at Tranche Level

Bond Class Name

Static

Text/Numeric

The designation (typically a letter and/or number) given to a tranche of RMBS which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1 Class A1 etc.

International Securities Identification Number

Static

Text/Numeric

The international security identification code or codes, or if no ISIN, then any other unique securities code such as a CUSIP, assigned to this tranche by an exchange or other entity. If more than one code, enter comma-delimited.

Interest Payment Date

Dynamic

Date

The periodic date on which a payment of interest to holders of a specific tranche of residential mortgage backed structured finance instrument is scheduled to occur.

Principal Payment Date

Dynamic

Date

The periodic date on which a payment of principal to holders of a specific tranche of residential mortgage backed structured finance instrument is scheduled to occur.

Currency

Static

Text

The unit(s) of exchange in which security-level balance(s) and payments are reported.

Reference Rate

Static

List

The base reference interest index as defined in the offering document (e.g. three months Euribor) applicable to a specific tranche of residential mortgage backed structured finance instrument.

Bond Issue Date

Static

Date

Date the bonds were issued.

---

ANNEX II

Loan Level Data — Reporting template for structured finance instruments backed by commercial mortgages

LOAN:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Loan Identifiers |
| Transaction Pool Identifier | Static | Text/Numeric | The unique transaction or deal name. |
| Pool Cut-off Date | Dynamic | Date | Current pool or portfolio cut-off date. |
| Securitisation Date | Static | Date | Date of issue of the deal — First bond listing date |
| Original Loan Terms |
| Group Identifier | Static | Text/Numeric | The alpha-numeric code assigned to each loan group within an issue. |
| Loan Servicer Identifier | Static | Text/Numeric | The loan servicer unique identification string assigned to the loan. |
| Offering Circular Loan Identifier | Static | Text/Numeric | The offering circular or prospectus unique number or transaction loan name assigned to the loan within the transaction or pool. |
| Loan Sponsor | Static | Text/Numeric | Loan sponsor. |
| Loan Origination Date | Static | Date | Date of original loan advance. |
| Loan Currency | Static | List | Loan currency denomination. |
| Whole Loan Balance at Origination Date | Static | Numeric | Whole loan balance at origination representing 100 % full facility, i.e. securitised and unsecuritised/owned and un-owned amount (in loan currency). |
| Original Term of Loan | Static | Numeric | Contractual term (in months) at Origination date. |
| Start Date of Amortisation | Static | Date | The date that amortisation will commence on the whole loan (this may be a date prior to the securitisation date). |
| Interest Rate Index Code | Static | List | Current interest rate index (the reference rate off which the mortgage interest rate is set). |
| Original Loan Interest Rate | Static | Numeric | Loan all-in interest rate at loan origination date. If multiple tranches with different interest rates then apply a weighted average rate. |
| First Interest Payment Due Date | Static | Date | The date that the first interest payment was due on the loan following origination date. |
| Loan Country | Static | List | Country of the loan. |
| Loan Purpose | Static | List | Loan purpose. |
| Mortgage Security | Static | Y/N | Is the loan secured by mortgages on the properties? |
| Loan Statistics at Securitisation Date |
| Debt Service Coverage Ratio for the loan (whole) at the Securitisation Date | Static | Numeric | The Debt Service Coverage Ratio for the loan (whole) at the Securitisation Date. |
| Loan to Value Ratio for the loan (whole) at the Securitisation Date | Static | Numeric | The Loan to Value Ratio for the loan (whole) at the Securitisation Date. |
| Securitisation Date Interest Cover Ratio (A-Loan) | Static | Numeric | At securitisation interest coverage ratio calculation for the A-Loan based on the offering documentation. |
| Securitisation Date Debt Service Cover Ratio (A-Loan) | Static | Numeric | At securitisation debt service coverage ratio calculation for the A-Loan based on the offering documentation. |
| Securitisation Date Loan to Value Ratio (A-Loan) | Static | Numeric | At securitisation Loan to Value ratio (LTV) for the A-Loan based on the offering documentation. |
| Committed Principal Balance at Securitisation Date | Static | Numeric | The committed balance, including any undrawn amounts, of the whole loan at Securitisation Date. |
| Actual Principal Balance at Securitisation Date (Whole Loan) | Static | Numeric | Actual Principal Balance of the whole loan at the Securitisation Date as identified in the offering circular. |
| Periodic Principal and Interest Payment at Securitisation Date | Static | Numeric | The scheduled principal and interest amount that is due on the next Loan Payment Date as at the Securitisation Date. |
| Loan Rate at Securitisation Date | Static | Numeric | The total interest rate (e.g. Libor + Margin) that is being used to calculate interest due on the loan at the Securitisation Date. |
| Ranking of Charge at Securitisation Date | Static | List | Is the security granted to the Securitisation a first ranking security? |
| Remaining Term at Securitisation Date | Static | Numeric | Remaining number of months (excluding any extension options) until maturity of loan at Securitisation Date. |
| Remaining Amortisation Term at Securitisation Date | Static | Numeric | The number of months remaining to maturity of the loan of the amortisation term. If amortisation has not commenced at the Securitisation Date this will be less than the Remaining Term at Securitisation Date. |
| Loan Maturity Date at Securitisation Date | Static | Date | The maturity date of the loan as defined in the loan agreement. This would not take into account any extended maturity date that may be allowed under the loan agreement, but the initial maturity date. |
| Actual Principal Balance at Securitisation Date (A-Loan) | Static | Numeric | Actual Principal Balance of the A Note loan at the Securitisation Date as identified in the offering circular. |
| Extension Option | Dynamic | Y/N | Indicate whether there is an option to extend the term of the loan and push out the maturity date. |
| Duration of Shortest Extension Option | Static | Numeric | Duration in months of the shortest extension option available to the loan. |
| Nature of extension option | Static | List | Type of extension option. |
| Collateral Details |
| Number of Properties at Securitisation Date | Static | Numeric | The number of properties that serve as security for the loan at the Securitisation Date. |
| Number of Properties at Pool cut-off Date | Dynamic | Numeric | The number of properties that serve as security for the loan at the pool cut-off date. |
| Properties Collateralised to the Loan at Securitisation | Static | Text/Numeric | Enter the unique property identifiers (PC1) of the properties that served as security for the loan at the Securitisation Date. |
| Properties Collateralised to the Loan at Pool cut-off date | Dynamic | Text/Numeric | Enter the unique property identifiers (PC1) of the properties that serve as security for the loan at the cut-off date. |
| Loan Covenant Details |
| Interest Coverage Ratio Method (Whole Loan) | Static | List | Please define calculation of ICR financial covenant requirement at the whole loan level, the inferred method of calculation. |
| Debt Service Coverage Ratio Method (Whole Loan) | Static | List | Please define calculation of DSCR financial covenant requirement at the whole loan level, the inferred method of calculation. |
| Loan to Value Method (Whole) | Static | List | Please define calculation of LTV financial covenant requirement at the whole loan level, the inferred method of calculation. |
| Other Financial Covenant Code (Whole) | Static | List | If there is another code required for ICR or DSCR financial covenant requirement at the whole loan level. |
| Interest Coverage Ratio Method (A-Loan) | Static | List | Please define the A-Loan Interest Coverage Ratio method of calculation. |
| Debt Service Coverage Ratio Method (A-Loan) | Static | List | Please define the A-Loan Debt Service Coverage Ratio method of calculation. |
| Loan to Value Method (A-Loan) | Static | List | Please define the A-Loan Loan to Value Method of calculation. |
| Underlying Property Statistics at Securitisation Date |
| Revenue at Securitisation Date | Static | Numeric | The total underwritten revenue from all sources for a property as described in the offering circular. If multiple properties, sum the values of the properties. |
| Operating Expenses at Securitisation Date | Static | Numeric | Total underwritten operating expenses for the properties as described in the offering circular. These may include real estate taxes, insurance, management, utilities, maintenance and repairs and direct property costs to the landlord; capital expenditures and leasing commissions are excluded. |
| NOI at Securitisation Date | Static | Numeric | Revenue less Operating Expenses at Securitisation Date (Field ‘Revenue at Securitisation Date’ minus ‘Operating Expenses at Securitisation Date’). If multiple properties, sum the values. |
| Capital Expenditures at Securitisation Date | Static | Numeric | Capex at Securitisation Date (as opposed to repairs and maintenance) if identified in the offering circular. |
| NCF at Securitisation Date | Static | Numeric | NOI less Capex at Securitisation Date (Field ‘NOI at Securitisation Date’ less ‘Capital Expenditures at Securitisation Date’). |
| Currency of Financial Reporting at Securitisation | Static | List | The currency used in the initial financial reporting of Fields ‘Revenue at Securitisation Date’ — ‘NCF at Securitisation Date’. |
| ICR/DSCR Indicator at Securitisation Date | Static | List | How the DSCR is calculated/applied when a loan has multiple properties. |
| Property Portfolio Value at Securitisation Date | Static | Numeric | The valuation of the properties securing the loan at Securitisation Date as described in the Offering Circular. If multiple properties sum the value of the properties. |
| Property Portfolio Valuation Currency at Securitisation Date | Static | List | The currency of the valuation in ‘Property Portfolio Value at Securitisation Date’. |
| Valuation Date at Securitisation Date | Static | Date | The date the valuation was prepared for the values disclosed in the offering circular. For multiple properties, if several dates, take the most recent date. |
| Economic Occupancy at Securitisation Date | Static | Numeric | The percentage of rentable space with signed leased in place at Securitisation Date if disclosed in offering circular (tenants may not be in occupation but are paying rent). If multiple properties use weighted average by using the calculation {Current Allocated % (Prop) × (Occupancy)} for each property. |
| Amounts Held in Escrow at Securitisation Date | Static | Numeric | Total balance of the legally charged reserve accounts at the loan level at the Securitisation Date. |
| Collection Of Escrows | Static | Y/N | Enter Y if any payments are held in reserve accounts to cover ground lease payments, insurance or taxes only (not maintenance, improvements, capex, etc.) as required under the loan agreement, if this is not done enter N. |
| Collection Of Other Reserves | Static | Y/N | Are any amounts other than ground rents taxes or insurance held in reserve accounts as required under the terms of the loan agreement for tenant improvements, leasing commissions and similar items in respect of the related property or for purpose of providing additional collateral for such loan? |
| Escrow Held Upon Trigger Event | Static | Y/N | Does the loan agreement require reserve amounts to be made upon the occurrence of any trigger events? |
| Trigger for Escrow to be Held | Static | List | Type of trigger event. |
| Target Escrow Amounts/Reserves | Static | Numeric | Target escrow amounts/reserves. |
| Escrow Account Release Conditions | Static | Text | Release conditions of the escrow account. |
| Conditions of Drawing Cash Reserve | Static | List | When can the Cash Reserve be used. |
| Escrow Currency | Static | List | Currency of the Escrow payments. Fields ‘Amounts Held in Escrow at Securitisation Date’ and ‘Target Escrow Amounts/Reserves’. |
| Loan Grouping and Substitutions Details |
| Cross-Collateralised Loan | Static | Y/N | Indicate if this is a cross collateralised loan (Example: loans 1 and 44 are cross collateralised as are loans 4 and 47). |
| Substituted Loan | Dynamic | Y/N | Is this loan a substitute for another loan on a date after the Securitisation Date? |
| Date of Substitution | Dynamic | Date | If loan was substituted after the Securitisation Date, the date of such substitution. |
| Grace Days Allowed | Static | Numeric | The number of days after a payment is due in which the lender will not charge a late penalty or report the payment as late. |
| Additional Financing Indicator | Static | List | Has the whole loan had additional financing/mezzanine debt? |
| Loan Interest Rate Details (at Securitisation Date) |
| Interest Rate Type | Static | List | Type of interest rate applied to the loan. |
| Interest Accrual Method Code | Static | List | The ‘days’ convention used to calculate interest. |
| Interest in Arrears | Static | Y/N | Is the interest that accrues on the loan paid in arrears? |
| A-Loan Amortisation Type (if applicable) | Static | List | A-Loan amortisation type. |
| Whole Loan Amortisation Details (at Securitisation Date) |
| Whole Loan Amortisation Type (if applicable) | Static | List | Whole loan amortisation type. |
| Accrual of Interest Allowed | Static | Y/N | Do the loan documents allow for interest to be accrued and capitalised? |
| Prepayment Lock-out End Date | Static | Date | The date after which the lender allows prepayment of the loan. |
| Yield Maintenance End Date | Static | Date | The date after which the lender allows prepayment of the loan without requirement for a prepayment fee or yield maintenance to be paid. Date after which loan can be prepaid without yield maintenance. |
| Prepayment Premium End Date | Static | Date | The date after which the lender allows prepayment of the loan without requirement for a prepayment fee to be paid. |
| Prepayment Terms Description | Static | Text/Numeric | Should reflect the information in offering circular. For instance, if the prepayment terms are the payment of a 1 % fee in year one, 0,5 % in year two and 0,25 % in year three of the loan this may be shown in the offering circular as: 1 % (12), 0,5 % (24), 0,25 % (36). |
| Do Non-payments on Prior Ranking Claims Constitute a Default of the Loan? | Static | Y/N | Do Non-payments on Prior Ranking Claims Constitute a Default of the Loan? |
| Non-payments on Equal Ranking Loans Constitute Default of Property? | Static | Y/N | Do Non-payments on Equal Ranking Loans Constitute Default of Property? |
| Loan Hedging Details (at Securitisation Date) |
| Lifetime Rate Cap | Static | Numeric | Maximum rate that the borrower must pay on a floating rate loan as required under the terms of the loan agreement. |
| Lifetime Rate Floor | Static | Numeric | Minimum rate that the borrower must pay on a floating rate loan as required under the terms of the loan agreement. |
| Type of Loan Level Swap | Static | List | Describe the type of loan level swap that applies. |
| Loan Swap Provider | Dynamic | Text | Name of loan swap provider. |
| Type of Interest Rate Loan Level Swap | Static | List | Describe the type of interest rate swap that applies to the loan. |
| Type of Currency Loan Level Swap | Static | List | Describe the type of currency rate swap. |
| Exchange Rate for Loan Level Swap | Static | Numeric | The exchange rate that has been set for a currency loan level swap. |
| Start Date of Loan Level Swap | Static | Date | Start Date of Loan Level Swap. |
| End Date of Loan Level Swap | Static | Date | End Date of Loan Level Swap. |
| Borrower Obligation to Pay Breakage on Loan Level Swap | Static | List | Extent to which Borrower is obligated to pay breakage costs to loan swap provider. |
| Loan Rate Adjustment Details (at Securitisation Date) |
| Payment Frequency | Static | List | Frequency of interest and amortisation payments on Loan according to original loan documents. |
| Rate Reset Frequency | Static | List | Frequency with which the interest rate is reset according to original loan documents. |
| Pay Reset Frequency | Static | List | Frequency with which the P&I payment is reset according to original loan documents. |
| Index Look Back In Days | Static | Numeric | The number of days prior to the interest payment date that the interest rate is set (e.g. Euribor set two days prior to interest payment date). |
| Index Determination Date | Static | Date | If the Loan Agreement states specific dates for the index to be set, enter the next index determination date. |
| Loan Syndication and Participation Details |
| Loan Structure | Static | List | Use the Loan Structure Code to describe what structure applies to this loan, e.g. whole loan, A/B splits, syndicated. |
| Syndicated Loan | Static | Y/N | Is the loan part of a syndicated loan? |
| Percentage of Total Loan Facility being Securitised | Static | Numeric | Percentage of total loan in securitisation at Securitisation Date. |
| Rights of Controlling Party for Material Decisions | Static | Y/N | Does owner of any participation other than the issuer have the right to make major decisions? |
| Agent Bank of Syndication | Static | Text | Agent bank. |
| Miscellaneous Loan Details |
| Remedy for Breach of Financial Covenant | Static | List | The remedy for the financial covenant breach. |
| Loan Originator | Static | Text | Name of the originator/Lender that sold the loan to the Issuer. Name of entity ultimately responsible for the representations and warranties of the loan. |
| Financial Information Submission Penalties | Static | List | Indicator for penalties for borrower’s failure to submit required financial information (Op. Statement, Schedule, etc.) as per loan documents. |
| Loan Recourse | Static | Y/N | Is there recourse to another party (e.g. guarantor) if the event the borrower defaults on an obligation under the loan agreement? |
| Rounding Code | Static | List | The method for rounding the interest rate. |
| Rounding Increment | Static | Numeric | The incremental percentage by which an index rate should be rounded in determining the interest rate as set out in the loan agreement. |
| Special Servicer Name at Securitisation Date | Static | Text | Special Servicer name at Securitisation date. |
| Servicing Standard | Static | List | Servicing Standard (Choice). Does the servicer of the loan service the Whole Loan (both the A and B components) or just the A or B component? |
| Payment Date Details |
| Loan Payment Date | Dynamic | Date | The date principal and interest is paid to the Issuer, this would normally be the interest payment date of the loan. |
| Paid through Date | Dynamic | Date | The date at which all payments have been paid in full with no shortfalls. On a performing loan this will be the Loan Payment Date immediately prior to the date entered in field ‘Loan Payment Date’. |
| Index Rate Reset Date | Dynamic | Date | For adjustable rate loans, the next date that the interest rate is due to change. For fixed rate loans, enter the next interest payment date. |
| Next Payment Adjustment Date | Dynamic | Date | For adjustable rate loans, the next date that the amount of scheduled principal and/or interest is due to change. For fixed rate loans, enter the next payment date. |
| Loan Maturity Date | Dynamic | Date | The current maturity date of the loan as defined in the loan agreement. This would not take into account any approved maturity date extensions that may be allowed under the loan agreement. |
| Next Loan Payment Date | Dynamic | Date | Date of next loan payment. |
| Rate Details |
| Current Index Rate (Whole Loan) | Dynamic | Numeric | The index rate used to determine the current whole loan interest rate. The interest rate (before margin) used to calculate the interest paid on the (Whole) Loan Payment Date in Field ‘Loan Payment Date’. |
| Current Margin Rate (Whole Loan) | Dynamic | Numeric | Margin used to determine the current whole loan interest rate. The margin being used to calculate the interest paid on the (Whole) Loan Payment Date in Field ‘Loan Payment Date’. |
| Current Interest Rate (Whole Loan) | Dynamic | Numeric | The total interest rate being used to calculate the interest paid on the (Whole) Loan Payment Date in Field ‘Loan Payment Date’ (sum of Field ‘Current Index Rate (Whole Loan)’ and ‘Current Margin Rate (Whole Loan)’ for floating loans). |
| Current Interest Rate (A-Loan) | Dynamic | Numeric | Gross rate per annum used to calculate the current period scheduled interest on the A portion of the loan. |
| Next Index Rate (Whole Loan) | Dynamic | Numeric | The next period index rate used to determine the current whole loan interest rate. The interest rate (before margin) used to calculate the interest paid based on the Actual Ending Loan Balance (Whole Loan) ‘Actual Ending Loan Balance (Whole Loan)’. |
| Current Default Rate (Whole Loan) | Dynamic | Numeric | Total interest being used to calculate the default interest paid on the loan payment date in field ‘Loan Payment Date’. |
| Principal Details |
| Current Beginning Opening Balance (Whole Loan) | Dynamic | Numeric | Outstanding balance at beginning of current period. The outstanding balance of the loan at the beginning of the interest period used to calculate the interest due on the Loan Payment Date in Field ‘Loan Payment Date’. |
| Scheduled Principal Amount (Whole Loan) | Dynamic | Numeric | Scheduled principal payment due on the loan for the current period. The principal payment due to be paid to the Issuer on the Loan Payment Date in Field ‘Loan Payment Date’ e.g. amortisation but not prepayments. |
| Current Ending Scheduled Balance (Whole Loan) | Dynamic | Numeric | Outstanding scheduled principal balance of loan at end of current period following amortisation but prior to any prepayments. The principal balance of the loan that would be outstanding following the scheduled principal payment but prior to any prepayments (Field ‘Current Beginning Opening Balance (Whole Loan)’ minus ‘Scheduled Principal Amount (Whole Loan)’). |
| Unscheduled Principal Collections (Whole Loan) | Dynamic | Numeric | Unscheduled payments of principal received during the current period. Other principal payments received during the interest period that will be used to pay down the loan. This may relate to sales proceeds, voluntary prepayments, or liquidation amounts. |
| Other Principal Adjustments (Whole Loan) | Dynamic | Numeric | Unscheduled principal adjustments for interest period, not associated with movement of cash. Any other amounts that would cause the balance of the loan to be decreased or increased in the current period which are not considered Unscheduled Principal Collections and are not Scheduled Principal. |
| Actual principal paid | Dynamic | Numeric | The actual principal paid as of the most recent IPD. |
| Actual Ending Loan Balance (Whole Loan) | Dynamic | Numeric | Outstanding actual principal balance at the end of the current period. The actual balance of the loan outstanding for the next interest period following all principal payments. |
| Current Beginning Balance (A-Loan) | Dynamic | Numeric | Outstanding balance (A-Loan) at beginning of current period. The outstanding balance of the A-Loan at the beginning of the interest period used to calculate the interest due on the Loan Payment Date. |
| Total Principal Collections (A-Loan) | Dynamic | Numeric | All payments of principal (A-Loan) received during the current period. The principal payment of the A-Loan due to be paid to the Issuer on the Loan Payment Date in Field ‘Loan Payment Date’ e.g. amortisation but not prepayments. |
| Actual Ending Loan Balance (A-Loan) | Dynamic | Numeric | Outstanding actual principal balance (A-Loan) at the end of the current period. The principal balance of the A-Loan that would be outstanding following the scheduled principal payment. |
| Committed Undrawn Facility Loan Balance (Whole Loan) | Dynamic | Numeric | The total whole loan (senior debt) remaining facility/ Undrawn balance at the end of the period. The total whole loan (senior debt) remaining facility at the end of the Interest Payment Date that the borrower can still draw upon. |
| Interest Details |
| Scheduled Interest Amount Due (Whole Loan) | Dynamic | Numeric | Gross interest for period assuming no repayment in current period for the whole loan. The total interest that is due on the Loan Payment Date, assuming no prepayments are made during the interest period. Interest should be based on the underlying rate as per the loan agreement. |
| Prepayment Interest Excess/ Shortfall | Dynamic | Numeric | Shortfall or excess of actual interest payment from the scheduled interest payment for the current period that is not related to a loan default. Results from a prepayment received on a date other than a scheduled payment due date. |
| Other Interest Adjustment | Dynamic | Numeric | Companion field for Other Principal Adjustments (Field ‘Other Principal Adjustments (Whole Loan)’) to show unscheduled interest adjustments for the related collection period. |
| Negative Amortisation | Dynamic | Numeric | Negative amortisation/deferred interest/capitalised interest without penalty. |
| Actual Interest Paid (Whole Loan) | Dynamic | Numeric | Whole Loan actual interest paid current period. Total amount of interest paid by the borrower during the interest period or on the Loan Payment Date. |
| Actual Interest Paid (A-Loan) | Dynamic | Numeric | Total amount of interest paid to the A-Loan during the interest period or on the Loan Payment Date. |
| Actual Default Interest | Dynamic | Numeric | Whole loan actual default interest paid in current period. Total amount of default interest paid by the borrower during the interest period or on the loan payment date. |
| Deferred Interest (Whole Loan) | Dynamic | Numeric | Deferred interest on the whole loan. Deferred interest is the amount by which the interest a borrower is required to pay on a mortgage loan is less than the amount of interest accrued on the outstanding principal balance. |
| Capitalised Interest (Whole Loan) | Dynamic | Numeric | Capitalised interest on the whole loan. Capitalised interest is where interest is added to the loan balance at the end of the interest period in accordance with loan agreement. |
| Principal and Interest Details |
| Total Scheduled Principal and Interest due (Whole Loan) | Dynamic | Numeric | Scheduled principal and interest payment due on the loan for the current period for the Issuer (whole loan). The total scheduled principal and interest due on the Loan Payment Date (sum of Fields ‘Scheduled Principal Amount (Whole Loan)’ and ‘Scheduled Interest Amount Due (Whole Loan)’) — can be used for DSCR calculations. |
| Total Shortfalls in Principal and Interest Outstanding (Whole Loan) | Dynamic | Numeric | Cumulative outstanding P&I amounts due on loan at the end of the current period. The cumulative amount of any unpaid principal and interest on the Loan Payment Date. |
| Total Other Amounts Outstanding | Dynamic | Numeric | Cumulative outstanding amounts on loan (e.g. insurance premium, ground rents, cap ex) at the end of the current period that have been expended by Issuer/Servicer. The cumulative amount of any property protection advances or other sums that have been advanced by the Servicer or Issuer and not yet reimbursed by the borrower. |
| Cumulative Amount Outstanding | Dynamic | Numeric | The sum of Field ‘Total Shortfalls in Principal and Interest Outstanding (Whole Loan)’ and ‘Total Other Amounts Outstanding’. |
| Amortisation Trigger Reached | Dynamic | Y/N | Has the amortisation trigger been reached? |
| Current Amortisation Type | Dynamic | List | The type of amortisation that applies to the A-Loan. |
| Total Scheduled Principal and Interest Paid (A-Loan) | Dynamic | Numeric | Scheduled Principal and Interest payment due on the A-Loan for the current period for the Issuer. |
| Most Recent YTD Financial Details |
| Borrower Reporting Breach | Dynamic | Y/N | Is Borrower in breach of its obligation to deliver reports to loan servicer or lender? |
| Most Recent Revenue | Dynamic | Numeric | Total revenues for the period covered by the most recent financial operating statement (i.e. year to date or trailing 12 months) for all the properties. |
| Most Recent Loan to Value Ratio (Whole Loan) | Dynamic | Numeric | Most recent Loan to Value (LTV) for the loan (whole) based on the loan documentation. |
| Most Recent Debt Service Cover Ratio (Whole Loan) | Dynamic | Numeric | Most recent Debt Service Coverage Ratio (DSCR) for the loan (whole) based on the loan documentation. |
| Most Recent Interest Cover Ratio (Whole Loan) | Dynamic | Numeric | Most recent Interest Coverage Ratio (ICR) for the loan (whole) based on the loan documentation. |
| Most Recent Interest Cover Ratio (A-Loan) | Dynamic | Numeric | Most recent interest coverage ratio calculation for the A-Loan based on the offering documentation. |
| Most Recent Debt Service Cover Ratio (A-Loan) | Dynamic | Numeric | Most recent debt service coverage ratio calculation for the A-Loan based on the offering documentation. |
| Most Recent Loan to Value Ratio (A-Loan) | Dynamic | Numeric | Most recent Loan to Value ratio (LTV) for the A-Loan based on the offering documentation. |
| Reserve and Escrow Details |
| Total Reserve Balance | Dynamic | Numeric | Total balance of the reserve accounts at the loan level at the Loan Payment Date. Includes Maintenance, Repairs and Environmental, etc. (excludes Tax and Insurance reserves Includes LC’s for reserves. Should be completed if Field ‘Collection of Other Reserves’ in Loan Set up is ‘Y’ = Yes. |
| Escrow Trigger Event Occurred | Dynamic | Y/N | Enter Y if an event has occurred which has caused reserve amounts to be established. Enter N if payments are built up as a normal condition of the loan agreement. |
| Amounts Added to Escrows in Current Period | Dynamic | Numeric | Amount that has been added to any escrows or reserves during Current Period. |
| Reserve Balance Currency | Dynamic | List | Reserve account currency denomination. |
| Escrow Currency | Static | List | Escrow account currency denomination. |
| Liquidation and Prepayment Details |
| Liquidation/Prepayment Date | Dynamic | Date | The date on which an unscheduled principal payment or liquidation proceeds are received. |
| Liquidation/Prepayment Code | Dynamic | List | Code assigned to any unscheduled principal payments or liquidation proceeds received during the collection period. |
| Borrower Level Hedging Details |
| Name of Loan Swap Provider (Borrower Level) | Dynamic | Text | The name of the Swap provider for the loan if the Borrower has the direct contract with the swap counterparty. |
| Actual Ratings of Loan Swap Provider (Borrower Level) | Dynamic | Text/Numeric | Identify the ratings of the Swap Counterparty as of the Loan Payment Date. |
| Full or Partial Termination Event of Loan Level Swap for Current Period (Borrower Level) | Dynamic | List | If loan swap has been terminated during current period, identify reason. |
| Net Periodic Payment due to Loan Swap Provider (Borrower Level) | Dynamic | Numeric | Amount of payment made by the borrower to the swap counterparty on the Loan Payment Date as required by the Swap contract. |
| Net Periodic Payment due from Loan Swap Provider (Borrower Level) | Dynamic | Numeric | Amount of payment made by the swap counterparty to the borrower on the Loan Payment Date as required by the Swap contract. |
| Breakage Costs Due to Loan Swap Provider | Dynamic | Numeric | Amount of any payment due from the borrower to the swap counterparty for partial of full termination of the Swap. |
| Shortfall in Payment of Breakage Costs on Loan Level Swap | Dynamic | Numeric | Amount of any shortfall, if any, of breakage costs resulting from the full or partial termination of the swap, paid by the borrower. |
| Breakage Costs Due from Loan Level Swap Counterparty | Dynamic | Numeric | Amount of any gains paid by the swap counterparty to the borrower on full or partial termination. |
| Next Reset Date for the Loan Level Swap | Dynamic | Date | Date of next reset date on the loan level swap. |
| Swap Details | Dynamic | Text | Details of the Swap. |
| Delinquent Loan Status Details |
| Status of Properties | Dynamic | List | Status of properties. |
| Loan Status | Dynamic | List | Loan status (i.e. current, non-payment etc.). If a loan has multiple Status Codes triggered, Servicer discretion to determine which code reported. |
| Enforcement Start Date | Dynamic | Date | The date on which foreclosure or administration proceedings or alternative enforcement procedures were initiated against or agreed by the borrower. |
| Workout Strategy Code | Dynamic | List | Work-out strategy. |
| Expected Timing of Recoveries | Dynamic | Numeric | Expected recovery timing in months. |
| In Insolvency | Dynamic | Y/N | Insolvency Status of Loan (if in insolvency ‘Y’, else ‘N’). |
| Insolvency Date | Dynamic | Date | Date of Insolvency. |
| Property Possession Date | Dynamic | Date | The date on which title to (or an alternative form of effective control and ability to dispose of) the collateral property was obtained. |
| Net Proceeds Received on Liquidation | Dynamic | Numeric | Net proceeds received on liquidation used to determine loss to the Issuer per the Transaction Documents. The amount of the net proceeds of sale received, this will determine whether there is a loss or shortfall on the loan. |
| Liquidation Expense | Dynamic | Numeric | Expenses associated with the liquidation to be netted from the other assets of issuer to determine loss per the Transaction Documents. Amount of any liquidation expenses that will be paid out of the net sales proceeds to determine whether there will be any loss. |
| Realised Loss to Securitisation | Dynamic | Numeric | Outstanding balance of loan (plus Liquidation Expenses) less net Liquidation Proceeds Received. The amount of any loss to the Issuer after deducting liquidation expenses from the net sales proceeds. |
| Number of months in Arrears | Dynamic | Numeric | Number of months this loan is in arrears at the end of the current period according to the definition of the issuer. |
| Default Amount | Dynamic | Numeric | Total default amount before the application of sale proceeds and recoveries. |
| Cumulative Recoveries | Dynamic | Numeric | Total recoveries including all sale proceeds. |
| Special Servicing Status | Dynamic | Y/N | As of the Loan Payment Date is the loan currently being specially serviced? |
| Default Date | Dynamic | Date | Date the loan defaulted. |
| Liquidation Currency | Dynamic | List | Liquidation currency denomination. |
| Currency of Losses | Dynamic | List | Losses currency denomination. |
| Default/Arrears Currency | Dynamic | List | Default/Arrears currency denomination. |
| Loan Modification Details |
| Noteholder Consent | Dynamic | Y/N | Is Noteholder consent needed in a restructuring? |
| Noteholder Meeting Scheduled | Dynamic | Date | What date is the next noteholder meeting scheduled for? |
| Last Loan Sale Date | Dynamic | Date | The date the loan was sold to the Issuer, if the loan was part of the original securitisation, then this will be the Securitisation Date. |
| Last Property Securitisation Date | Dynamic | Date | Date the latest property or properties were contributed to this securitisation. If any properties have been substituted, enter the date of the last substitution. If the properties were part of the original transaction, this will be the Securitisation Date. |
| Date of Assumption | Dynamic | Date | Date the assignment/novation or assumption was executed by the new borrower. |
| Appraisal Reduction Amount Date | Dynamic | Date | Date the Appraisal Reduction Amount was calculated and approved (initial or updated calculation as of date). |
| Date of Last Modification | Dynamic | Date | Last effective date the loan was modified. |
| Modification Code | Dynamic | List | Type of modification. |
| Modified Payment Rate | Dynamic | Numeric | If the loan has been restructured (probably during a workout process), and the amortisation schedule has been amended, then the new amount, expressed as a percentage of the loan balance, should be entered. |
| Modified Loan Interest Rate | Dynamic | Numeric | If the loan has been restructured (probably during a workout process), and the interest rate/margin has been amended, then the new rate should be entered. |
| Special Servicing Details |
| Servicer Watchlist | Dynamic | Date | Determination Date that a loan was placed on the Watchlist. If loan came off the Watchlist in a prior period and is now coming back on, use the new entry date. |
| Most Recent Special Servicer Transfer Date | Dynamic | Date | The date a loan was transferred to the special Servicer following a servicing transfer event. Note: If the loan has had multiple transfers, this should be the last date transferred to special servicing. |
| Most Recent Primary Servicer Return Date | Dynamic | Date | The date a loan becomes a ‘corrected mortgage loan’, which is the date the loan was returned to the master/primary Servicer from the special Servicer. |
| Non-Recoverability Determined | Dynamic | Y/N | Indicator (Yes/No) as to whether the Servicer/Special has determined that there will be a shortfall in recovering any advances it has made and the outstanding loan balance and any other amounts owing on the loan from proceeds upon sale or liquidation of the property or Loan. |
| Date of Loan Breach | Dynamic | Date | The date the breach occurred. If multiple breaches, the date of the earliest breach. |
| Date of Loan Breach Cure | Dynamic | Date | The date the breach cured. If multiple breaches, the date which the last breach cured. |
| Watchlist Criteria Code | Dynamic | List | Servicer Watchlist Code. If multiple criteria are applicable, please list the most detrimental code. |
| Currency of Fees | Dynamic | List | Fees currency denomination. |
| Special Servicer Details |
| Special Servicer Name | Dynamic | Text | Special Servicer name. |
| Special Servicer Change? | Dynamic | Y/N | Has there been a change in the Special Servicer since the prior reporting period? |
| Other Ranking Lender Enforcement Involvement | Dynamic | Y/N | Is another ranking lender involved in enforcement? |
| Defaulted Loan Status Details |
| Default or Foreclosure | Dynamic | Y/N | Is the loan currently in default or foreclosure? |
| Default Reason | Dynamic | | Reason for default. |
| Covenant Breach/Trigger | Dynamic | List | Type of Covenant Breach/Trigger. |
| Capital Requirement Directive Information |
| Specify Originator compliance with one of four retention options | Dynamic | List | Type of retention. |
| Retained by Originator | Dynamic | Numeric | Net economic interest retained by the originator in percentage (%) terms as under Article 405 of Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR). |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Loan Identifiers

Transaction Pool Identifier

Static

Text/Numeric

The unique transaction or deal name.

Pool Cut-off Date

Dynamic

Date

Current pool or portfolio cut-off date.

Securitisation Date

Static

Date

Date of issue of the deal — First bond listing date

Original Loan Terms

Group Identifier

Static

Text/Numeric

The alpha-numeric code assigned to each loan group within an issue.

Loan Servicer Identifier

Static

Text/Numeric

The loan servicer unique identification string assigned to the loan.

Offering Circular Loan Identifier

Static

Text/Numeric

The offering circular or prospectus unique number or transaction loan name assigned to the loan within the transaction or pool.

Loan Sponsor

Static

Text/Numeric

Loan sponsor.

Loan Origination Date

Static

Date

Date of original loan advance.

Loan Currency

Static

List

Loan currency denomination.

Whole Loan Balance at Origination Date

Static

Numeric

Whole loan balance at origination representing 100 % full facility, i.e. securitised and unsecuritised/owned and un-owned amount (in loan currency).

Original Term of Loan

Static

Numeric

Contractual term (in months) at Origination date.

Start Date of Amortisation

Static

Date

The date that amortisation will commence on the whole loan (this may be a date prior to the securitisation date).

Interest Rate Index Code

Static

List

Current interest rate index (the reference rate off which the mortgage interest rate is set).

Original Loan Interest Rate

Static

Numeric

Loan all-in interest rate at loan origination date. If multiple tranches with different interest rates then apply a weighted average rate.

First Interest Payment Due Date

Static

Date

The date that the first interest payment was due on the loan following origination date.

Loan Country

Static

List

Country of the loan.

Loan Purpose

Static

List

Loan purpose.

Mortgage Security

Static

Y/N

Is the loan secured by mortgages on the properties?

Loan Statistics at Securitisation Date

Debt Service Coverage Ratio for the loan (whole) at the Securitisation Date

Static

Numeric

The Debt Service Coverage Ratio for the loan (whole) at the Securitisation Date.

Loan to Value Ratio for the loan (whole) at the Securitisation Date

Static

Numeric

The Loan to Value Ratio for the loan (whole) at the Securitisation Date.

Securitisation Date Interest Cover Ratio (A-Loan)

Static

Numeric

At securitisation interest coverage ratio calculation for the A-Loan based on the offering documentation.

Securitisation Date Debt Service Cover Ratio (A-Loan)

Static

Numeric

At securitisation debt service coverage ratio calculation for the A-Loan based on the offering documentation.

Securitisation Date Loan to Value Ratio (A-Loan)

Static

Numeric

At securitisation Loan to Value ratio (LTV) for the A-Loan based on the offering documentation.

Committed Principal Balance at Securitisation Date

Static

Numeric

The committed balance, including any undrawn amounts, of the whole loan at Securitisation Date.

Actual Principal Balance at Securitisation Date (Whole Loan)

Static

Numeric

Actual Principal Balance of the whole loan at the Securitisation Date as identified in the offering circular.

Periodic Principal and Interest Payment at Securitisation Date

Static

Numeric

The scheduled principal and interest amount that is due on the next Loan Payment Date as at the Securitisation Date.

Loan Rate at Securitisation Date

Static

Numeric

The total interest rate (e.g. Libor + Margin) that is being used to calculate interest due on the loan at the Securitisation Date.

Ranking of Charge at Securitisation Date

Static

List

Is the security granted to the Securitisation a first ranking security?

Remaining Term at Securitisation Date

Static

Numeric

Remaining number of months (excluding any extension options) until maturity of loan at Securitisation Date.

Remaining Amortisation Term at Securitisation Date

Static

Numeric

The number of months remaining to maturity of the loan of the amortisation term. If amortisation has not commenced at the Securitisation Date this will be less than the Remaining Term at Securitisation Date.

Loan Maturity Date at Securitisation Date

Static

Date

The maturity date of the loan as defined in the loan agreement. This would not take into account any extended maturity date that may be allowed under the loan agreement, but the initial maturity date.

Actual Principal Balance at Securitisation Date (A-Loan)

Static

Numeric

Actual Principal Balance of the A Note loan at the Securitisation Date as identified in the offering circular.

Extension Option

Dynamic

Y/N

Indicate whether there is an option to extend the term of the loan and push out the maturity date.

Duration of Shortest Extension Option

Static

Numeric

Duration in months of the shortest extension option available to the loan.

Nature of extension option

Static

List

Type of extension option.

Collateral Details

Number of Properties at Securitisation Date

Static

Numeric

The number of properties that serve as security for the loan at the Securitisation Date.

Number of Properties at Pool cut-off Date

Dynamic

Numeric

The number of properties that serve as security for the loan at the pool cut-off date.

Properties Collateralised to the Loan at Securitisation

Static

Text/Numeric

Enter the unique property identifiers (PC1) of the properties that served as security for the loan at the Securitisation Date.

Properties Collateralised to the Loan at Pool cut-off date

Dynamic

Text/Numeric

Enter the unique property identifiers (PC1) of the properties that serve as security for the loan at the cut-off date.

Loan Covenant Details

Interest Coverage Ratio Method (Whole Loan)

Static

List

Please define calculation of ICR financial covenant requirement at the whole loan level, the inferred method of calculation.

Debt Service Coverage Ratio Method (Whole Loan)

Static

List

Please define calculation of DSCR financial covenant requirement at the whole loan level, the inferred method of calculation.

Loan to Value Method (Whole)

Static

List

Please define calculation of LTV financial covenant requirement at the whole loan level, the inferred method of calculation.

Other Financial Covenant Code (Whole)

Static

List

If there is another code required for ICR or DSCR financial covenant requirement at the whole loan level.

Interest Coverage Ratio Method (A-Loan)

Static

List

Please define the A-Loan Interest Coverage Ratio method of calculation.

Debt Service Coverage Ratio Method (A-Loan)

Static

List

Please define the A-Loan Debt Service Coverage Ratio method of calculation.

Loan to Value Method (A-Loan)

Static

List

Please define the A-Loan Loan to Value Method of calculation.

Underlying Property Statistics at Securitisation Date

Revenue at Securitisation Date

Static

Numeric

The total underwritten revenue from all sources for a property as described in the offering circular. If multiple properties, sum the values of the properties.

Operating Expenses at Securitisation Date

Static

Numeric

Total underwritten operating expenses for the properties as described in the offering circular. These may include real estate taxes, insurance, management, utilities, maintenance and repairs and direct property costs to the landlord; capital expenditures and leasing commissions are excluded.

NOI at Securitisation Date

Static

Numeric

Revenue less Operating Expenses at Securitisation Date (Field ‘Revenue at Securitisation Date’ minus ‘Operating Expenses at Securitisation Date’). If multiple properties, sum the values.

Capital Expenditures at Securitisation Date

Static

Numeric

Capex at Securitisation Date (as opposed to repairs and maintenance) if identified in the offering circular.

NCF at Securitisation Date

Static

Numeric

NOI less Capex at Securitisation Date (Field ‘NOI at Securitisation Date’ less ‘Capital Expenditures at Securitisation Date’).

Currency of Financial Reporting at Securitisation

Static

List

The currency used in the initial financial reporting of Fields ‘Revenue at Securitisation Date’ — ‘NCF at Securitisation Date’.

ICR/DSCR Indicator at Securitisation Date

Static

List

How the DSCR is calculated/applied when a loan has multiple properties.

Property Portfolio Value at Securitisation Date

Static

Numeric

The valuation of the properties securing the loan at Securitisation Date as described in the Offering Circular. If multiple properties sum the value of the properties.

Property Portfolio Valuation Currency at Securitisation Date

Static

List

The currency of the valuation in ‘Property Portfolio Value at Securitisation Date’.

Valuation Date at Securitisation Date

Static

Date

The date the valuation was prepared for the values disclosed in the offering circular. For multiple properties, if several dates, take the most recent date.

Economic Occupancy at Securitisation Date

Static

Numeric

The percentage of rentable space with signed leased in place at Securitisation Date if disclosed in offering circular (tenants may not be in occupation but are paying rent). If multiple properties use weighted average by using the calculation {Current Allocated % (Prop) × (Occupancy)} for each property.

Amounts Held in Escrow at Securitisation Date

Static

Numeric

Total balance of the legally charged reserve accounts at the loan level at the Securitisation Date.

Collection Of Escrows

Static

Y/N

Enter Y if any payments are held in reserve accounts to cover ground lease payments, insurance or taxes only (not maintenance, improvements, capex, etc.) as required under the loan agreement, if this is not done enter N.

Collection Of Other Reserves

Static

Y/N

Are any amounts other than ground rents taxes or insurance held in reserve accounts as required under the terms of the loan agreement for tenant improvements, leasing commissions and similar items in respect of the related property or for purpose of providing additional collateral for such loan?

Escrow Held Upon Trigger Event

Static

Y/N

Does the loan agreement require reserve amounts to be made upon the occurrence of any trigger events?

Trigger for Escrow to be Held

Static

List

Type of trigger event.

Target Escrow Amounts/Reserves

Static

Numeric

Target escrow amounts/reserves.

Escrow Account Release Conditions

Static

Text

Release conditions of the escrow account.

Conditions of Drawing Cash Reserve

Static

List

When can the Cash Reserve be used.

Escrow Currency

Static

List

Currency of the Escrow payments. Fields ‘Amounts Held in Escrow at Securitisation Date’ and ‘Target Escrow Amounts/Reserves’.

Loan Grouping and Substitutions Details

Cross-Collateralised Loan

Static

Y/N

Indicate if this is a cross collateralised loan (Example: loans 1 and 44 are cross collateralised as are loans 4 and 47).

Substituted Loan

Dynamic

Y/N

Is this loan a substitute for another loan on a date after the Securitisation Date?

Date of Substitution

Dynamic

Date

If loan was substituted after the Securitisation Date, the date of such substitution.

Grace Days Allowed

Static

Numeric

The number of days after a payment is due in which the lender will not charge a late penalty or report the payment as late.

Additional Financing Indicator

Static

List

Has the whole loan had additional financing/mezzanine debt?

Loan Interest Rate Details (at Securitisation Date)

Interest Rate Type

Static

List

Type of interest rate applied to the loan.

Interest Accrual Method Code

Static

List

The ‘days’ convention used to calculate interest.

Interest in Arrears

Static

Y/N

Is the interest that accrues on the loan paid in arrears?

A-Loan Amortisation Type (if applicable)

Static

List

A-Loan amortisation type.

Whole Loan Amortisation Details (at Securitisation Date)

Whole Loan Amortisation Type (if applicable)

Static

List

Whole loan amortisation type.

Accrual of Interest Allowed

Static

Y/N

Do the loan documents allow for interest to be accrued and capitalised?

Prepayment Lock-out End Date

Static

Date

The date after which the lender allows prepayment of the loan.

Yield Maintenance End Date

Static

Date

The date after which the lender allows prepayment of the loan without requirement for a prepayment fee or yield maintenance to be paid. Date after which loan can be prepaid without yield maintenance.

Prepayment Premium End Date

Static

Date

The date after which the lender allows prepayment of the loan without requirement for a prepayment fee to be paid.

Prepayment Terms Description

Static

Text/Numeric

Should reflect the information in offering circular. For instance, if the prepayment terms are the payment of a 1 % fee in year one, 0,5 % in year two and 0,25 % in year three of the loan this may be shown in the offering circular as: 1 % (12), 0,5 % (24), 0,25 % (36).

Do Non-payments on Prior Ranking Claims Constitute a Default of the Loan?

Static

Y/N

Do Non-payments on Prior Ranking Claims Constitute a Default of the Loan?

Non-payments on Equal Ranking Loans Constitute Default of Property?

Static

Y/N

Do Non-payments on Equal Ranking Loans Constitute Default of Property?

Loan Hedging Details (at Securitisation Date)

Lifetime Rate Cap

Static

Numeric

Maximum rate that the borrower must pay on a floating rate loan as required under the terms of the loan agreement.

Lifetime Rate Floor

Static

Numeric

Minimum rate that the borrower must pay on a floating rate loan as required under the terms of the loan agreement.

Type of Loan Level Swap

Static

List

Describe the type of loan level swap that applies.

Loan Swap Provider

Dynamic

Text

Name of loan swap provider.

Type of Interest Rate Loan Level Swap

Static

List

Describe the type of interest rate swap that applies to the loan.

Type of Currency Loan Level Swap

Static

List

Describe the type of currency rate swap.

Exchange Rate for Loan Level Swap

Static

Numeric

The exchange rate that has been set for a currency loan level swap.

Start Date of Loan Level Swap

Static

Date

Start Date of Loan Level Swap.

End Date of Loan Level Swap

Static

Date

End Date of Loan Level Swap.

Borrower Obligation to Pay Breakage on Loan Level Swap

Static

List

Extent to which Borrower is obligated to pay breakage costs to loan swap provider.

Loan Rate Adjustment Details (at Securitisation Date)

Payment Frequency

Static

List

Frequency of interest and amortisation payments on Loan according to original loan documents.

Rate Reset Frequency

Static

List

Frequency with which the interest rate is reset according to original loan documents.

Pay Reset Frequency

Static

List

Frequency with which the P&I payment is reset according to original loan documents.

Index Look Back In Days

Static

Numeric

The number of days prior to the interest payment date that the interest rate is set (e.g. Euribor set two days prior to interest payment date).

Index Determination Date

Static

Date

If the Loan Agreement states specific dates for the index to be set, enter the next index determination date.

Loan Syndication and Participation Details

Loan Structure

Static

List

Use the Loan Structure Code to describe what structure applies to this loan, e.g. whole loan, A/B splits, syndicated.

Syndicated Loan

Static

Y/N

Is the loan part of a syndicated loan?

Percentage of Total Loan Facility being Securitised

Static

Numeric

Percentage of total loan in securitisation at Securitisation Date.

Rights of Controlling Party for Material Decisions

Static

Y/N

Does owner of any participation other than the issuer have the right to make major decisions?

Agent Bank of Syndication

Static

Text

Agent bank.

Miscellaneous Loan Details

Remedy for Breach of Financial Covenant

Static

List

The remedy for the financial covenant breach.

Loan Originator

Static

Text

Name of the originator/Lender that sold the loan to the Issuer. Name of entity ultimately responsible for the representations and warranties of the loan.

Financial Information Submission Penalties

Static

List

Indicator for penalties for borrower’s failure to submit required financial information (Op. Statement, Schedule, etc.) as per loan documents.

Loan Recourse

Static

Y/N

Is there recourse to another party (e.g. guarantor) if the event the borrower defaults on an obligation under the loan agreement?

Rounding Code

Static

List

The method for rounding the interest rate.

Rounding Increment

Static

Numeric

The incremental percentage by which an index rate should be rounded in determining the interest rate as set out in the loan agreement.

Special Servicer Name at Securitisation Date

Static

Text

Special Servicer name at Securitisation date.

Servicing Standard

Static

List

Servicing Standard (Choice). Does the servicer of the loan service the Whole Loan (both the A and B components) or just the A or B component?

Payment Date Details

Loan Payment Date

Dynamic

Date

The date principal and interest is paid to the Issuer, this would normally be the interest payment date of the loan.

Paid through Date

Dynamic

Date

The date at which all payments have been paid in full with no shortfalls. On a performing loan this will be the Loan Payment Date immediately prior to the date entered in field ‘Loan Payment Date’.

Index Rate Reset Date

Dynamic

Date

For adjustable rate loans, the next date that the interest rate is due to change. For fixed rate loans, enter the next interest payment date.

Next Payment Adjustment Date

Dynamic

Date

For adjustable rate loans, the next date that the amount of scheduled principal and/or interest is due to change. For fixed rate loans, enter the next payment date.

Loan Maturity Date

Dynamic

Date

The current maturity date of the loan as defined in the loan agreement. This would not take into account any approved maturity date extensions that may be allowed under the loan agreement.

Next Loan Payment Date

Dynamic

Date

Date of next loan payment.

Rate Details

Current Index Rate (Whole Loan)

Dynamic

Numeric

The index rate used to determine the current whole loan interest rate. The interest rate (before margin) used to calculate the interest paid on the (Whole) Loan Payment Date in Field ‘Loan Payment Date’.

Current Margin Rate (Whole Loan)

Dynamic

Numeric

Margin used to determine the current whole loan interest rate. The margin being used to calculate the interest paid on the (Whole) Loan Payment Date in Field ‘Loan Payment Date’.

Current Interest Rate (Whole Loan)

Dynamic

Numeric

The total interest rate being used to calculate the interest paid on the (Whole) Loan Payment Date in Field ‘Loan Payment Date’ (sum of Field ‘Current Index Rate (Whole Loan)’ and ‘Current Margin Rate (Whole Loan)’ for floating loans).

Current Interest Rate (A-Loan)

Dynamic

Numeric

Gross rate per annum used to calculate the current period scheduled interest on the A portion of the loan.

Next Index Rate (Whole Loan)

Dynamic

Numeric

The next period index rate used to determine the current whole loan interest rate. The interest rate (before margin) used to calculate the interest paid based on the Actual Ending Loan Balance (Whole Loan) ‘Actual Ending Loan Balance (Whole Loan)’.

Current Default Rate (Whole Loan)

Dynamic

Numeric

Total interest being used to calculate the default interest paid on the loan payment date in field ‘Loan Payment Date’.

Principal Details

Current Beginning Opening Balance (Whole Loan)

Dynamic

Numeric

Outstanding balance at beginning of current period. The outstanding balance of the loan at the beginning of the interest period used to calculate the interest due on the Loan Payment Date in Field ‘Loan Payment Date’.

Scheduled Principal Amount (Whole Loan)

Dynamic

Numeric

Scheduled principal payment due on the loan for the current period. The principal payment due to be paid to the Issuer on the Loan Payment Date in Field ‘Loan Payment Date’ e.g. amortisation but not prepayments.

Current Ending Scheduled Balance (Whole Loan)

Dynamic

Numeric

Outstanding scheduled principal balance of loan at end of current period following amortisation but prior to any prepayments. The principal balance of the loan that would be outstanding following the scheduled principal payment but prior to any prepayments (Field ‘Current Beginning Opening Balance (Whole Loan)’ minus ‘Scheduled Principal Amount (Whole Loan)’).

Unscheduled Principal Collections (Whole Loan)

Dynamic

Numeric

Unscheduled payments of principal received during the current period. Other principal payments received during the interest period that will be used to pay down the loan. This may relate to sales proceeds, voluntary prepayments, or liquidation amounts.

Other Principal Adjustments (Whole Loan)

Dynamic

Numeric

Unscheduled principal adjustments for interest period, not associated with movement of cash. Any other amounts that would cause the balance of the loan to be decreased or increased in the current period which are not considered Unscheduled Principal Collections and are not Scheduled Principal.

Actual principal paid

Dynamic

Numeric

The actual principal paid as of the most recent IPD.

Actual Ending Loan Balance (Whole Loan)

Dynamic

Numeric

Outstanding actual principal balance at the end of the current period. The actual balance of the loan outstanding for the next interest period following all principal payments.

Current Beginning Balance (A-Loan)

Dynamic

Numeric

Outstanding balance (A-Loan) at beginning of current period. The outstanding balance of the A-Loan at the beginning of the interest period used to calculate the interest due on the Loan Payment Date.

Total Principal Collections (A-Loan)

Dynamic

Numeric

All payments of principal (A-Loan) received during the current period. The principal payment of the A-Loan due to be paid to the Issuer on the Loan Payment Date in Field ‘Loan Payment Date’ e.g. amortisation but not prepayments.

Actual Ending Loan Balance (A-Loan)

Dynamic

Numeric

Outstanding actual principal balance (A-Loan) at the end of the current period. The principal balance of the A-Loan that would be outstanding following the scheduled principal payment.

Committed Undrawn Facility Loan Balance (Whole Loan)

Dynamic

Numeric

The total whole loan (senior debt) remaining facility/ Undrawn balance at the end of the period. The total whole loan (senior debt) remaining facility at the end of the Interest Payment Date that the borrower can still draw upon.

Interest Details

Scheduled Interest Amount Due (Whole Loan)

Dynamic

Numeric

Gross interest for period assuming no repayment in current period for the whole loan. The total interest that is due on the Loan Payment Date, assuming no prepayments are made during the interest period. Interest should be based on the underlying rate as per the loan agreement.

Prepayment Interest Excess/ Shortfall

Dynamic

Numeric

Shortfall or excess of actual interest payment from the scheduled interest payment for the current period that is not related to a loan default. Results from a prepayment received on a date other than a scheduled payment due date.

Other Interest Adjustment

Dynamic

Numeric

Companion field for Other Principal Adjustments (Field ‘Other Principal Adjustments (Whole Loan)’) to show unscheduled interest adjustments for the related collection period.

Negative Amortisation

Dynamic

Numeric

Negative amortisation/deferred interest/capitalised interest without penalty.

Actual Interest Paid (Whole Loan)

Dynamic

Numeric

Whole Loan actual interest paid current period. Total amount of interest paid by the borrower during the interest period or on the Loan Payment Date.

Actual Interest Paid (A-Loan)

Dynamic

Numeric

Total amount of interest paid to the A-Loan during the interest period or on the Loan Payment Date.

Actual Default Interest

Dynamic

Numeric

Whole loan actual default interest paid in current period. Total amount of default interest paid by the borrower during the interest period or on the loan payment date.

Deferred Interest (Whole Loan)

Dynamic

Numeric

Deferred interest on the whole loan. Deferred interest is the amount by which the interest a borrower is required to pay on a mortgage loan is less than the amount of interest accrued on the outstanding principal balance.

Capitalised Interest (Whole Loan)

Dynamic

Numeric

Capitalised interest on the whole loan. Capitalised interest is where interest is added to the loan balance at the end of the interest period in accordance with loan agreement.

Principal and Interest Details

Total Scheduled Principal and Interest due (Whole Loan)

Dynamic

Numeric

Scheduled principal and interest payment due on the loan for the current period for the Issuer (whole loan). The total scheduled principal and interest due on the Loan Payment Date (sum of Fields ‘Scheduled Principal Amount (Whole Loan)’ and ‘Scheduled Interest Amount Due (Whole Loan)’) — can be used for DSCR calculations.

Total Shortfalls in Principal and Interest Outstanding (Whole Loan)

Dynamic

Numeric

Cumulative outstanding P&I amounts due on loan at the end of the current period. The cumulative amount of any unpaid principal and interest on the Loan Payment Date.

Total Other Amounts Outstanding

Dynamic

Numeric

Cumulative outstanding amounts on loan (e.g. insurance premium, ground rents, cap ex) at the end of the current period that have been expended by Issuer/Servicer. The cumulative amount of any property protection advances or other sums that have been advanced by the Servicer or Issuer and not yet reimbursed by the borrower.

Cumulative Amount Outstanding

Dynamic

Numeric

The sum of Field ‘Total Shortfalls in Principal and Interest Outstanding (Whole Loan)’ and ‘Total Other Amounts Outstanding’.

Amortisation Trigger Reached

Dynamic

Y/N

Has the amortisation trigger been reached?

Current Amortisation Type

Dynamic

List

The type of amortisation that applies to the A-Loan.

Total Scheduled Principal and Interest Paid (A-Loan)

Dynamic

Numeric

Scheduled Principal and Interest payment due on the A-Loan for the current period for the Issuer.

Most Recent YTD Financial Details

Borrower Reporting Breach

Dynamic

Y/N

Is Borrower in breach of its obligation to deliver reports to loan servicer or lender?

Most Recent Revenue

Dynamic

Numeric

Total revenues for the period covered by the most recent financial operating statement (i.e. year to date or trailing 12 months) for all the properties.

Most Recent Loan to Value Ratio (Whole Loan)

Dynamic

Numeric

Most recent Loan to Value (LTV) for the loan (whole) based on the loan documentation.

Most Recent Debt Service Cover Ratio (Whole Loan)

Dynamic

Numeric

Most recent Debt Service Coverage Ratio (DSCR) for the loan (whole) based on the loan documentation.

Most Recent Interest Cover Ratio (Whole Loan)

Dynamic

Numeric

Most recent Interest Coverage Ratio (ICR) for the loan (whole) based on the loan documentation.

Most Recent Interest Cover Ratio (A-Loan)

Dynamic

Numeric

Most recent interest coverage ratio calculation for the A-Loan based on the offering documentation.

Most Recent Debt Service Cover Ratio (A-Loan)

Dynamic

Numeric

Most recent debt service coverage ratio calculation for the A-Loan based on the offering documentation.

Most Recent Loan to Value Ratio (A-Loan)

Dynamic

Numeric

Most recent Loan to Value ratio (LTV) for the A-Loan based on the offering documentation.

Reserve and Escrow Details

Total Reserve Balance

Dynamic

Numeric

Total balance of the reserve accounts at the loan level at the Loan Payment Date. Includes Maintenance, Repairs and Environmental, etc. (excludes Tax and Insurance reserves Includes LC’s for reserves. Should be completed if Field ‘Collection of Other Reserves’ in Loan Set up is ‘Y’ = Yes.

Escrow Trigger Event Occurred

Dynamic

Y/N

Enter Y if an event has occurred which has caused reserve amounts to be established. Enter N if payments are built up as a normal condition of the loan agreement.

Amounts Added to Escrows in Current Period

Dynamic

Numeric

Amount that has been added to any escrows or reserves during Current Period.

Reserve Balance Currency

Dynamic

List

Reserve account currency denomination.

Escrow Currency

Static

List

Escrow account currency denomination.

Liquidation and Prepayment Details

Liquidation/Prepayment Date

Dynamic

Date

The date on which an unscheduled principal payment or liquidation proceeds are received.

Liquidation/Prepayment Code

Dynamic

List

Code assigned to any unscheduled principal payments or liquidation proceeds received during the collection period.

Borrower Level Hedging Details

Name of Loan Swap Provider (Borrower Level)

Dynamic

Text

The name of the Swap provider for the loan if the Borrower has the direct contract with the swap counterparty.

Actual Ratings of Loan Swap Provider (Borrower Level)

Dynamic

Text/Numeric

Identify the ratings of the Swap Counterparty as of the Loan Payment Date.

Full or Partial Termination Event of Loan Level Swap for Current Period (Borrower Level)

Dynamic

List

If loan swap has been terminated during current period, identify reason.

Net Periodic Payment due to Loan Swap Provider (Borrower Level)

Dynamic

Numeric

Amount of payment made by the borrower to the swap counterparty on the Loan Payment Date as required by the Swap contract.

Net Periodic Payment due from Loan Swap Provider (Borrower Level)

Dynamic

Numeric

Amount of payment made by the swap counterparty to the borrower on the Loan Payment Date as required by the Swap contract.

Breakage Costs Due to Loan Swap Provider

Dynamic

Numeric

Amount of any payment due from the borrower to the swap counterparty for partial of full termination of the Swap.

Shortfall in Payment of Breakage Costs on Loan Level Swap

Dynamic

Numeric

Amount of any shortfall, if any, of breakage costs resulting from the full or partial termination of the swap, paid by the borrower.

Breakage Costs Due from Loan Level Swap Counterparty

Dynamic

Numeric

Amount of any gains paid by the swap counterparty to the borrower on full or partial termination.

Next Reset Date for the Loan Level Swap

Dynamic

Date

Date of next reset date on the loan level swap.

Swap Details

Dynamic

Text

Details of the Swap.

Delinquent Loan Status Details

Status of Properties

Dynamic

List

Status of properties.

Loan Status

Dynamic

List

Loan status (i.e. current, non-payment etc.). If a loan has multiple Status Codes triggered, Servicer discretion to determine which code reported.

Enforcement Start Date

Dynamic

Date

The date on which foreclosure or administration proceedings or alternative enforcement procedures were initiated against or agreed by the borrower.

Workout Strategy Code

Dynamic

List

Work-out strategy.

Expected Timing of Recoveries

Dynamic

Numeric

Expected recovery timing in months.

In Insolvency

Dynamic

Y/N

Insolvency Status of Loan (if in insolvency ‘Y’, else ‘N’).

Insolvency Date

Dynamic

Date

Date of Insolvency.

Property Possession Date

Dynamic

Date

The date on which title to (or an alternative form of effective control and ability to dispose of) the collateral property was obtained.

Net Proceeds Received on Liquidation

Dynamic

Numeric

Net proceeds received on liquidation used to determine loss to the Issuer per the Transaction Documents. The amount of the net proceeds of sale received, this will determine whether there is a loss or shortfall on the loan.

Liquidation Expense

Dynamic

Numeric

Expenses associated with the liquidation to be netted from the other assets of issuer to determine loss per the Transaction Documents. Amount of any liquidation expenses that will be paid out of the net sales proceeds to determine whether there will be any loss.

Realised Loss to Securitisation

Dynamic

Numeric

Outstanding balance of loan (plus Liquidation Expenses) less net Liquidation Proceeds Received. The amount of any loss to the Issuer after deducting liquidation expenses from the net sales proceeds.

Number of months in Arrears

Dynamic

Numeric

Number of months this loan is in arrears at the end of the current period according to the definition of the issuer.

Default Amount

Dynamic

Numeric

Total default amount before the application of sale proceeds and recoveries.

Cumulative Recoveries

Dynamic

Numeric

Total recoveries including all sale proceeds.

Special Servicing Status

Dynamic

Y/N

As of the Loan Payment Date is the loan currently being specially serviced?

Default Date

Dynamic

Date

Date the loan defaulted.

Liquidation Currency

Dynamic

List

Liquidation currency denomination.

Currency of Losses

Dynamic

List

Losses currency denomination.

Default/Arrears Currency

Dynamic

List

Default/Arrears currency denomination.

Loan Modification Details

Noteholder Consent

Dynamic

Y/N

Is Noteholder consent needed in a restructuring?

Noteholder Meeting Scheduled

Dynamic

Date

What date is the next noteholder meeting scheduled for?

Last Loan Sale Date

Dynamic

Date

The date the loan was sold to the Issuer, if the loan was part of the original securitisation, then this will be the Securitisation Date.

Last Property Securitisation Date

Dynamic

Date

Date the latest property or properties were contributed to this securitisation. If any properties have been substituted, enter the date of the last substitution. If the properties were part of the original transaction, this will be the Securitisation Date.

Date of Assumption

Dynamic

Date

Date the assignment/novation or assumption was executed by the new borrower.

Appraisal Reduction Amount Date

Dynamic

Date

Date the Appraisal Reduction Amount was calculated and approved (initial or updated calculation as of date).

Date of Last Modification

Dynamic

Date

Last effective date the loan was modified.

Modification Code

Dynamic

List

Type of modification.

Modified Payment Rate

Dynamic

Numeric

If the loan has been restructured (probably during a workout process), and the amortisation schedule has been amended, then the new amount, expressed as a percentage of the loan balance, should be entered.

Modified Loan Interest Rate

Dynamic

Numeric

If the loan has been restructured (probably during a workout process), and the interest rate/margin has been amended, then the new rate should be entered.

Special Servicing Details

Servicer Watchlist

Dynamic

Date

Determination Date that a loan was placed on the Watchlist. If loan came off the Watchlist in a prior period and is now coming back on, use the new entry date.

Most Recent Special Servicer Transfer Date

Dynamic

Date

The date a loan was transferred to the special Servicer following a servicing transfer event. Note: If the loan has had multiple transfers, this should be the last date transferred to special servicing.

Most Recent Primary Servicer Return Date

Dynamic

Date

The date a loan becomes a ‘corrected mortgage loan’, which is the date the loan was returned to the master/primary Servicer from the special Servicer.

Non-Recoverability Determined

Dynamic

Y/N

Indicator (Yes/No) as to whether the Servicer/Special has determined that there will be a shortfall in recovering any advances it has made and the outstanding loan balance and any other amounts owing on the loan from proceeds upon sale or liquidation of the property or Loan.

Date of Loan Breach

Dynamic

Date

The date the breach occurred. If multiple breaches, the date of the earliest breach.

Date of Loan Breach Cure

Dynamic

Date

The date the breach cured. If multiple breaches, the date which the last breach cured.

Watchlist Criteria Code

Dynamic

List

Servicer Watchlist Code. If multiple criteria are applicable, please list the most detrimental code.

Currency of Fees

Dynamic

List

Fees currency denomination.

Special Servicer Details

Special Servicer Name

Dynamic

Text

Special Servicer name.

Special Servicer Change?

Dynamic

Y/N

Has there been a change in the Special Servicer since the prior reporting period?

Other Ranking Lender Enforcement Involvement

Dynamic

Y/N

Is another ranking lender involved in enforcement?

Defaulted Loan Status Details

Default or Foreclosure

Dynamic

Y/N

Is the loan currently in default or foreclosure?

Default Reason

Dynamic

Reason for default.

Covenant Breach/Trigger

Dynamic

List

Type of Covenant Breach/Trigger.

Capital Requirement Directive Information

Specify Originator compliance with one of four retention options

Dynamic

List

Type of retention.

Retained by Originator

Dynamic

Numeric

Net economic interest retained by the originator in percentage (%) terms as under Article 405 of Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (CRR).

PROPERTY:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Property Collateral Details |
| Property Identifier | Static | Text/Numeric | Unique identifier for the property. If multiple properties (such as a block of apartments) this should be a unique identifier which identifies them collectively. |
| Property Cross-Collateralised Loan Grouping | Dynamic | Text/Numeric | Please enter relevant Offering Circular Loan Identifiers, if one property secures several loans within the transaction or pool then separate IDs with comma delimiters. |
| Property Name | Static | Text/Numeric | The name of the property that serves as security for the loan. If multiple properties (such as a block of apartments) this should be the name which identifies them collectively. |
| Property Address | Static | Text/Numeric | The address of the property that serves as security for the loan. |
| Property City Town | Static | Text | City or town name where the property is located. |
| Property Post Code | Static | Text/Numeric | The primary property postal code. First 2-4 characters must be provided at a minimum. |
| Property Country | Static | List | The country where the property is located. |
| Property Type Code | Static | List | The property type or use reference defined in the valuation report or offering documentation. |
| Year Built | Static | Date | Year the property was built per the valuation report or offering document. |
| Year Last Renovated | Dynamic | Date | Year that last major renovation/new construction was completed on the property per the valuation report or offering document. |
| Net Square Metres At Securitisation Date | Dynamic | Numeric | The total net rentable area of the properties in square metres that serve as security for the loan per the most recent valuation report. For multiple properties sum the area. |
| Net Internal Floor Area Validated | Dynamic | Y/N | Has a valuer verified the net internal floor area of the property? |
| Number of Units/Beds/Rooms | Static | Numeric | For property type Multifamily enter number of units, for Hospitality/Hotel/Healthcare — beds, for Caravan Parks — units, Lodging rooms, Self-Storage units. For Multiple properties, if all the same Property Type, sum the values. |
| Property Status | Dynamic | List | Most recent loan status of property. |
| Property Form of Title | Static | List | The relevant form of property title. A lease on land only, in which the borrower usually owns a building or is required to build as specified in the lease. |
| Property Leasehold Expiry | Static | Date | Provide the earliest date the leasehold interest expires. |
| Ground Rent Payable | Dynamic | Numeric | If property is leasehold, please provide the current annual leasehold rent payable to the lessor. |
| Date of Most Recent Valuation | Dynamic | Date | Date of the last property valuation. |
| Most Recent Valuation | Dynamic | Numeric | The most recent valuation of the property. |
| Most Recent Valuation Basis | Dynamic | List | The most recent Valuation Basis. |
| Ground Rent Currency | Dynamic | List | Currency of the Ground Rent (‘Ground Rent Payable’). |
| Most Recent Valuation Currency | Dynamic | List | Currency of the Most Recent Valuation (‘Most Recent Valuation’). |
| Securitisation Date Details |
| Property Securitisation Date | Static | Date | Date the property was contributed to this securitisation. If this property has been substituted, enter the date of the substitution. If the property was part of the original transaction, this will be the Securitisation Date. |
| Allocated Percentage of Loan at Securitisation Date | Static | Numeric | Allocated loan % attributable to property at Securitisation Date where there is more than one property securing the loan. |
| Date of Financials at Securitisation Date | Static | Date | The end date of the financials for the information used in the offering circular (e.g. year to date, annual, quarterly or trailing 12 months). |
| Net Operating Income at Securitisation Date | Dynamic | Numeric | Revenue less Operating Expenses at Securitisation Date. |
| Valuation at Securitisation Date | Static | Numeric | The valuation of the properties securing the loan at Securitisation Date as described in the Offering Circular. |
| Name of Valuer at Securitisation | Static | Text | Name of valuation firm who performed the property valuation at securitisation. |
| Date of Valuation at Securitisation Date | Dynamic | Date | The date the valuation was prepared for the values disclosed in the offering circular. |
| Vacant Possession Value at Date of Securitisation | Dynamic | Numeric | Vacant possession value at Date of Securitisation. |
| Commercial Area | Dynamic | Numeric | The total net Commercial rentable area of the property in square metres that serves as security for the loan per the most recent valuation report. |
| Residential Area | Dynamic | Numeric | The total net residential rentable area of the property in square metres that serves as security for the loan per the most recent valuation report. |
| Currency of Financials | Dynamic | List | Loan currency denomination. |
| Property Most Recent YTD Financial Details |
| Current Allocated Loan Percentage | Dynamic | Numeric | Allocated loan % attributable to property at Loan Payment Date where there is more than one property securing the loan, the sum of all % should total 100 %. This may be set out in the Loan Agreement. |
| Current Allocated Ending Loan Amount | Dynamic | Numeric | Apply the Current Allocated % to the Actual Balance outstanding on the Loan. |
| Most Recent Financial As of Start Date | Dynamic | Date | The first day of the financials used for the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months). |
| Most Recent Financial As of End Date | Dynamic | Date | The end date of the financials used for the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months). |
| Last Month of Year used for Reporting Financials | Dynamic | Text/Numeric | Enter the month that the financials for each year (most recent, preceding and second preceding) will end. |
| Most Recent Financial Indicator | Dynamic | List | This field is used to describe the period for which the most recent financial data is reflected. |
| Most Recent Revenue | Dynamic | Numeric | Total revenues for the period covered by the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months) for all the properties. For multiple properties then sum the revenue. |
| Most Recent Operating Expenses | Dynamic | Numeric | Total operating expenses for the period covered by the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months) for all properties. |
| Most Recent Net Operating Income | Dynamic | Numeric | Total revenues less total operating expenses for the period covered by the most recent financial operating statement. |
| Most Recent Capital Expenditure | Dynamic | Numeric | Total Capital Expenditure (as opposed to repairs and maintenance) for the period covered by the most recent financial operating statement, e.g. Monthly, Quarterly, Year to Date or Trailing 12 months) for all the properties. |
| Most Recent Net Cash Flow | Dynamic | Numeric | Total Net Operating Income less Capital Expenses for the period covered by the most recent financial operating statement. |
| Most Recent Debt Service Amount | Dynamic | Numeric | Total scheduled payments of principal and interest due during the period covered by the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months). |
| Most Recent DSCR (NOI) | Dynamic | Numeric | Calculate the DSCR based on NOI for the period covered by the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months). |
| Contractual Annual Rental Income | Dynamic | Numeric | The contractual annual rental income derived from the most recent Borrower tenancy schedule. |
| Property Occupancy Details |
| Occupancy as of Date | Dynamic | Date | Date of most recently received rent roll/ tenancy schedule. (for hospitality (hotels), and health care properties use average occupancy for the period for which the financial statements are reported). |
| Physical Occupancy at Securitisation Date | Dynamic | Numeric | At Securitisation the available percentage of rentable space actually occupied (i.e. where tenants are actually in occupation and not vacated). Should be derived from a rent roll or other document indicating occupancy consistent with most recent financial year information. |
| Most Recent Physical Occupancy | Dynamic | Numeric | The most recent available percentage of rentable space actually occupied (i.e. where tenants are actually in occupation and not vacated). Should be derived from a rent roll or other document indicating occupancy consistent with most recent financial year information. |
| Available Tenant by Tenant Data | Dynamic | Y/N | Is the tenant information available on a tenant by tenant basis? |
| Weighted Average Lease Terms | Dynamic | Numeric | Weighted average lease terms in years. |
| Weighted Average Lease Terms (1st Break) | Dynamic | Numeric | Weighted average lease terms (in years) after all 1st Break options |
| Top Three Tenant Details |
| % Income expiring 1-12 months | Dynamic | Numeric | Percentage of income expiring in 1 to 12 months. |
| % Income expiring 13-24 months | Dynamic | Numeric | Percentage of income expiring in 13 to 24 months. |
| % Income expiring 25-36 months | Dynamic | Numeric | Percentage of income expiring in 25 to 36 months. |
| % Income expiring 37-48 months | Dynamic | Numeric | Percentage of income expiring in 37 to 48 months. |
| % Income expiring 49+ months | Dynamic | Numeric | Percentage of income expiring in 49 or more months. |
| Largest Tenant by income (Net) | Dynamic | Text/Numeric | Name of largest current tenant by net rent. |
| Date of Lease Expiration of Largest Tenant | Dynamic | Date | Expiration date of lease of largest current tenant (by net rent). |
| Rent Payable by Largest Tenant | Dynamic | Numeric | Annual Rent payable by largest current tenant. |
| 2nd Largest Tenant by Income (Net) | Dynamic | Text/Numeric | Name of second largest current tenant (by net rent). |
| Date of Lease Expiration of 2nd Largest Tenant | Dynamic | Date | Expiration date of lease of second largest current tenant (net annual rent). |
| Rent Payable by 2nd Largest Tenant | Dynamic | Numeric | Rent Payable by second largest current tenant. |
| 3rd Largest Tenant by Income (Net) | Dynamic | Text/Numeric | Name of third largest current tenant (by net rent). |
| Date of Lease Expiration of 3rd Largest Tenant | Dynamic | Date | Expiration date of lease of third largest current tenant (net annual rent). |
| Rent Payable by 3rd Largest Tenant | Dynamic | Numeric | Rent Payable by third largest current tenant. |
| Rent Currency | Dynamic | List | Rent currency denomination. |
| Foreclosure Details |
| Date Asset Expected to Be Resolved or Foreclosed | Dynamic | Date | Estimated date the Special Servicer expects resolution. If multiple properties, enter latest date from the affiliated properties. If in foreclosure = Expected Date of Foreclosure and if Property Possession = Expected Sale Date. |
| Possession Proceedings Start Date | Dynamic | Date | The date on which foreclosure proceedings or alternative enforcement procedures were initiated against or agreed by the borrower. |
| Date of Receivership | Dynamic | Date | The date on which title to (or an alternative form of effective control and ability to dispose of) the collateral property was obtained. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Property Collateral Details

Property Identifier

Static

Text/Numeric

Unique identifier for the property. If multiple properties (such as a block of apartments) this should be a unique identifier which identifies them collectively.

Property Cross-Collateralised Loan Grouping

Dynamic

Text/Numeric

Please enter relevant Offering Circular Loan Identifiers, if one property secures several loans within the transaction or pool then separate IDs with comma delimiters.

Property Name

Static

Text/Numeric

The name of the property that serves as security for the loan. If multiple properties (such as a block of apartments) this should be the name which identifies them collectively.

Property Address

Static

Text/Numeric

The address of the property that serves as security for the loan.

Property City Town

Static

Text

City or town name where the property is located.

Property Post Code

Static

Text/Numeric

The primary property postal code. First 2-4 characters must be provided at a minimum.

Property Country

Static

List

The country where the property is located.

Property Type Code

Static

List

The property type or use reference defined in the valuation report or offering documentation.

Year Built

Static

Date

Year the property was built per the valuation report or offering document.

Year Last Renovated

Dynamic

Date

Year that last major renovation/new construction was completed on the property per the valuation report or offering document.

Net Square Metres At Securitisation Date

Dynamic

Numeric

The total net rentable area of the properties in square metres that serve as security for the loan per the most recent valuation report. For multiple properties sum the area.

Net Internal Floor Area Validated

Dynamic

Y/N

Has a valuer verified the net internal floor area of the property?

Number of Units/Beds/Rooms

Static

Numeric

For property type Multifamily enter number of units, for Hospitality/Hotel/Healthcare — beds, for Caravan Parks — units, Lodging rooms, Self-Storage units. For Multiple properties, if all the same Property Type, sum the values.

Property Status

Dynamic

List

Most recent loan status of property.

Property Form of Title

Static

List

The relevant form of property title. A lease on land only, in which the borrower usually owns a building or is required to build as specified in the lease.

Property Leasehold Expiry

Static

Date

Provide the earliest date the leasehold interest expires.

Ground Rent Payable

Dynamic

Numeric

If property is leasehold, please provide the current annual leasehold rent payable to the lessor.

Date of Most Recent Valuation

Dynamic

Date

Date of the last property valuation.

Most Recent Valuation

Dynamic

Numeric

The most recent valuation of the property.

Most Recent Valuation Basis

Dynamic

List

The most recent Valuation Basis.

Ground Rent Currency

Dynamic

List

Currency of the Ground Rent (‘Ground Rent Payable’).

Most Recent Valuation Currency

Dynamic

List

Currency of the Most Recent Valuation (‘Most Recent Valuation’).

Securitisation Date Details

Property Securitisation Date

Static

Date

Date the property was contributed to this securitisation. If this property has been substituted, enter the date of the substitution. If the property was part of the original transaction, this will be the Securitisation Date.

Allocated Percentage of Loan at Securitisation Date

Static

Numeric

Allocated loan % attributable to property at Securitisation Date where there is more than one property securing the loan.

Date of Financials at Securitisation Date

Static

Date

The end date of the financials for the information used in the offering circular (e.g. year to date, annual, quarterly or trailing 12 months).

Net Operating Income at Securitisation Date

Dynamic

Numeric

Revenue less Operating Expenses at Securitisation Date.

Valuation at Securitisation Date

Static

Numeric

The valuation of the properties securing the loan at Securitisation Date as described in the Offering Circular.

Name of Valuer at Securitisation

Static

Text

Name of valuation firm who performed the property valuation at securitisation.

Date of Valuation at Securitisation Date

Dynamic

Date

The date the valuation was prepared for the values disclosed in the offering circular.

Vacant Possession Value at Date of Securitisation

Dynamic

Numeric

Vacant possession value at Date of Securitisation.

Commercial Area

Dynamic

Numeric

The total net Commercial rentable area of the property in square metres that serves as security for the loan per the most recent valuation report.

Residential Area

Dynamic

Numeric

The total net residential rentable area of the property in square metres that serves as security for the loan per the most recent valuation report.

Currency of Financials

Dynamic

List

Loan currency denomination.

Property Most Recent YTD Financial Details

Current Allocated Loan Percentage

Dynamic

Numeric

Allocated loan % attributable to property at Loan Payment Date where there is more than one property securing the loan, the sum of all % should total 100 %. This may be set out in the Loan Agreement.

Current Allocated Ending Loan Amount

Dynamic

Numeric

Apply the Current Allocated % to the Actual Balance outstanding on the Loan.

Most Recent Financial As of Start Date

Dynamic

Date

The first day of the financials used for the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months).

Most Recent Financial As of End Date

Dynamic

Date

The end date of the financials used for the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months).

Last Month of Year used for Reporting Financials

Dynamic

Text/Numeric

Enter the month that the financials for each year (most recent, preceding and second preceding) will end.

Most Recent Financial Indicator

Dynamic

List

This field is used to describe the period for which the most recent financial data is reflected.

Most Recent Revenue

Dynamic

Numeric

Total revenues for the period covered by the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months) for all the properties. For multiple properties then sum the revenue.

Most Recent Operating Expenses

Dynamic

Numeric

Total operating expenses for the period covered by the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months) for all properties.

Most Recent Net Operating Income

Dynamic

Numeric

Total revenues less total operating expenses for the period covered by the most recent financial operating statement.

Most Recent Capital Expenditure

Dynamic

Numeric

Total Capital Expenditure (as opposed to repairs and maintenance) for the period covered by the most recent financial operating statement, e.g. Monthly, Quarterly, Year to Date or Trailing 12 months) for all the properties.

Most Recent Net Cash Flow

Dynamic

Numeric

Total Net Operating Income less Capital Expenses for the period covered by the most recent financial operating statement.

Most Recent Debt Service Amount

Dynamic

Numeric

Total scheduled payments of principal and interest due during the period covered by the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months).

Most Recent DSCR (NOI)

Dynamic

Numeric

Calculate the DSCR based on NOI for the period covered by the most recent financial operating statement (e.g. Monthly, Quarterly, Year to Date or Trailing 12 months).

Contractual Annual Rental Income

Dynamic

Numeric

The contractual annual rental income derived from the most recent Borrower tenancy schedule.

Property Occupancy Details

Occupancy as of Date

Dynamic

Date

Date of most recently received rent roll/ tenancy schedule. (for hospitality (hotels), and health care properties use average occupancy for the period for which the financial statements are reported).

Physical Occupancy at Securitisation Date

Dynamic

Numeric

At Securitisation the available percentage of rentable space actually occupied (i.e. where tenants are actually in occupation and not vacated). Should be derived from a rent roll or other document indicating occupancy consistent with most recent financial year information.

Most Recent Physical Occupancy

Dynamic

Numeric

The most recent available percentage of rentable space actually occupied (i.e. where tenants are actually in occupation and not vacated). Should be derived from a rent roll or other document indicating occupancy consistent with most recent financial year information.

Available Tenant by Tenant Data

Dynamic

Y/N

Is the tenant information available on a tenant by tenant basis?

Weighted Average Lease Terms

Dynamic

Numeric

Weighted average lease terms in years.

Weighted Average Lease Terms (1st Break)

Dynamic

Numeric

Weighted average lease terms (in years) after all 1st Break options

Top Three Tenant Details

% Income expiring 1-12 months

Dynamic

Numeric

Percentage of income expiring in 1 to 12 months.

% Income expiring 13-24 months

Dynamic

Numeric

Percentage of income expiring in 13 to 24 months.

% Income expiring 25-36 months

Dynamic

Numeric

Percentage of income expiring in 25 to 36 months.

% Income expiring 37-48 months

Dynamic

Numeric

Percentage of income expiring in 37 to 48 months.

% Income expiring 49+ months

Dynamic

Numeric

Percentage of income expiring in 49 or more months.

Largest Tenant by income (Net)

Dynamic

Text/Numeric

Name of largest current tenant by net rent.

Date of Lease Expiration of Largest Tenant

Dynamic

Date

Expiration date of lease of largest current tenant (by net rent).

Rent Payable by Largest Tenant

Dynamic

Numeric

Annual Rent payable by largest current tenant.

2nd Largest Tenant by Income (Net)

Dynamic

Text/Numeric

Name of second largest current tenant (by net rent).

Date of Lease Expiration of 2nd Largest Tenant

Dynamic

Date

Expiration date of lease of second largest current tenant (net annual rent).

Rent Payable by 2nd Largest Tenant

Dynamic

Numeric

Rent Payable by second largest current tenant.

3rd Largest Tenant by Income (Net)

Dynamic

Text/Numeric

Name of third largest current tenant (by net rent).

Date of Lease Expiration of 3rd Largest Tenant

Dynamic

Date

Expiration date of lease of third largest current tenant (net annual rent).

Rent Payable by 3rd Largest Tenant

Dynamic

Numeric

Rent Payable by third largest current tenant.

Rent Currency

Dynamic

List

Rent currency denomination.

Foreclosure Details

Date Asset Expected to Be Resolved or Foreclosed

Dynamic

Date

Estimated date the Special Servicer expects resolution. If multiple properties, enter latest date from the affiliated properties. If in foreclosure = Expected Date of Foreclosure and if Property Possession = Expected Sale Date.

Possession Proceedings Start Date

Dynamic

Date

The date on which foreclosure proceedings or alternative enforcement procedures were initiated against or agreed by the borrower.

Date of Receivership

Dynamic

Date

The date on which title to (or an alternative form of effective control and ability to dispose of) the collateral property was obtained.

BOND INFO:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Bond General Details |
| Transaction Pool Identifier | Static | Text/Numeric | The unique transaction or pool identification string. |
| Distribution Date | Static | Date | The interest and principal payment date of the bond tranche. |
| Record Date | Static | Date | Date note class must be held as of to be considered holder of record. |
| Bond Class Name | Static | Text/Numeric | The designation (typically a letter and/or number) given to a tranche of commercial mortgage backed structured finance instrument which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1 Class A1 etc. |
| CUSIP (Rule 144A) | Static | Text/Numeric | The security identification code assigned to each note class or tranche pursuant to standards established by the Committee on Uniform Security Identification Procedures number for Rule 144A requirements or other securities code established by an exchange or other entity. |
| International Securities Identification Number | Static | Text/Numeric | The security identification code assigned to each note class or tranche pursuant to standards established by the International Standards Organisation (ISIN) or other securities code established by an exchange or other entity. |
| Common Code (Rule 144A) | Static | Text/Numeric | Nine-digit identification code issued for each note class or tranche jointly by CEDEL and Euroclear. |
| International Securities Identification Number (Reg. S) | Static | Text/Numeric | The security identification code assigned to each note class or tranche pursuant to standards established by the International Standards Organisation (ISIN) for Regulation S requirements or other securities code established by an exchange or other entity. |
| Common Code (Reg. S) | Static | Text/Numeric | The security identification code assigned to each note class or tranche pursuant to standards established by the Committee on Uniform Security Identification Procedures number for Regulation S requirements or other securities code established by an exchange or other entity. |
| Bond Issuance Date | Static | Date | Date of bond issuance. |
| Legal Maturity Date | Static | Date | The date which note class specific or tranche of must be repaid in order not to be in default. |
| Currency | Static | List | Type of currency in which the note class or tranche monetary value is expressed. |
| Original Principal Balance | Static | Numeric | The original principal balance of the specific note class or tranche at the issuance date. |
| Bond Principal Details |
| Notional Flag | Static | Y/N | ‘Y’ for Notional, ‘N’ if this note class or tranche is interest only, i.e. an IO strip. |
| Beginning Principal Balance | Static | Numeric | The outstanding principal balance of the note class or tranche at the beginning of the current period. |
| Scheduled Principal | Static | Numeric | The scheduled principal paid to the note class or tranche during the period. |
| Unscheduled Principal | Dynamic | Numeric | The unscheduled principal paid to the note class or tranche during the period. |
| Total Principal Distribution | Dynamic | Numeric | The total principal (scheduled and unscheduled) paid to the note class or tranche during the period. |
| Amortisation Type | Static | List | The amortisation method in which the note class or tranche is paid periodically. |
| Interest Only Period Duration | Static | Numeric | Length of interest only period in months. |
| Capitalised Interest | Dynamic | Numeric | Any interest added to the class balance including negative amortisation. |
| Principal Loss | Dynamic | Numeric | The total principal loss for the reporting period. |
| Cumulative Principal Losses | Dynamic | Numeric | Principal losses allocated cumulative-to-date. |
| Ending Principal Balance | Dynamic | Numeric | The outstanding principal balance of the note class or tranche at the end of the current period. |
| Payment Note factor | Dynamic | Numeric | Principal paid on the note class or tranche in the reporting period as a fraction of the note or tranche original (initial) balance (0<x<1), up to 12 decimal points. |
| Ending Note factor | Dynamic | Numeric | Ending note class or tranche principal after the payments of the current reporting period as a fraction of the note or tranche original (initial) balance (0<x<1), up to 12 decimal points. |
| Next Note Payment Date | Dynamic | Date | The next period note class or tranche payment/distribution date. |
| Bond Interest Details |
| Index Rate Type | Static | List | The base reference interest index as defined in the offering document applicable to the specific note class or tranche. Current interest rate index. |
| Current Index Rate | Dynamic | Numeric | The current value of the index rate applied to the specific note class or tranche during the current accrual period, to a minimum of 5 decimal places. |
| Accrual Method | Static | List | The accrual method in which the note class or tranche is calculated periodically. |
| Current Accrual Days | Dynamic | Numeric | The number of accrual days applicable to the calculation of current period remittance interest. |
| Interest Accrued | Dynamic | Numeric | The amount of accrued interest. |
| Available Funds Cap Applicable | Static | Y/N | Does the Note class benefit an Available Funds Cap (AFC) mechanism? |
| Appraisal Reduction Amount | Dynamic | Numeric | Current appraisal reduction allocated to this class. |
| Cumulative Appraisal Reduction | Dynamic | Numeric | Total cumulative appraisal reduction allocated. |
| Other Interest Distribution | Dynamic | Numeric | Other specific additions to interest. |
| Current Interest Shortfall | Dynamic | Numeric | Interest shortfall amount for this reporting period for this class. |
| Cumulative Interest Shortfall | Dynamic | Numeric | Cumulative Interest Shortfall to date. |
| Total Interest Distribution | Dynamic | Numeric | The total interest payment made. |
| Beginning Unpaid Interest Balance | Dynamic | Numeric | Outstanding interest shortfall at the beginning of the current period. |
| Short-Term Unpaid Interest | Dynamic | Numeric | Any interest deferred in the current period and payable on the next Payment Date. |
| Long-Term Unpaid Interest | Dynamic | Numeric | Any interest deferred in the current period and payable on the Maturity Date. |
| Available Funds Cap Trigger Event | Dynamic | Y/N | Has an Available Funds Cap (AFC) event been triggered? |
| Next Period Index Rate | Dynamic | Numeric | The next period value of the Index rate. |
| Next Index Reset Date | Dynamic | Date | The next period Index Rate reset date. |
| Liquidity Facility Details |
| Liquidity Facility - Beginning Balance | Dynamic | Numeric | The beginning balance of the liquidity facility. |
| Adjustments To The Liquidity Facility | Dynamic | Numeric | Any adjustments to the liquidity facility. |
| Drawdowns On The Liquidity Facility | Dynamic | Numeric | Amount of drawdown on the liquidity facility. |
| Repayments To The Liquidity Facility | Dynamic | Numeric | Repayment amounts to the liquidity facility. |
| Closing Liquidity Facility Balance | Dynamic | Numeric | The closing balance. |
| Liquidity Facility Currency | Dynamic | List | Currency of the liquidity facility. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Bond General Details

Transaction Pool Identifier

Static

Text/Numeric

The unique transaction or pool identification string.

Distribution Date

Static

Date

The interest and principal payment date of the bond tranche.

Record Date

Static

Date

Date note class must be held as of to be considered holder of record.

Bond Class Name

Static

Text/Numeric

The designation (typically a letter and/or number) given to a tranche of commercial mortgage backed structured finance instrument which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1 Class A1 etc.

CUSIP (Rule 144A)

Static

Text/Numeric

The security identification code assigned to each note class or tranche pursuant to standards established by the Committee on Uniform Security Identification Procedures number for Rule 144A requirements or other securities code established by an exchange or other entity.

International Securities Identification Number

Static

Text/Numeric

The security identification code assigned to each note class or tranche pursuant to standards established by the International Standards Organisation (ISIN) or other securities code established by an exchange or other entity.

Common Code (Rule 144A)

Static

Text/Numeric

Nine-digit identification code issued for each note class or tranche jointly by CEDEL and Euroclear.

International Securities Identification Number (Reg. S)

Static

Text/Numeric

The security identification code assigned to each note class or tranche pursuant to standards established by the International Standards Organisation (ISIN) for Regulation S requirements or other securities code established by an exchange or other entity.

Common Code (Reg. S)

Static

Text/Numeric

The security identification code assigned to each note class or tranche pursuant to standards established by the Committee on Uniform Security Identification Procedures number for Regulation S requirements or other securities code established by an exchange or other entity.

Bond Issuance Date

Static

Date

Date of bond issuance.

Legal Maturity Date

Static

Date

The date which note class specific or tranche of must be repaid in order not to be in default.

Currency

Static

List

Type of currency in which the note class or tranche monetary value is expressed.

Original Principal Balance

Static

Numeric

The original principal balance of the specific note class or tranche at the issuance date.

Bond Principal Details

Notional Flag

Static

Y/N

‘Y’ for Notional, ‘N’ if this note class or tranche is interest only, i.e. an IO strip.

Beginning Principal Balance

Static

Numeric

The outstanding principal balance of the note class or tranche at the beginning of the current period.

Scheduled Principal

Static

Numeric

The scheduled principal paid to the note class or tranche during the period.

Unscheduled Principal

Dynamic

Numeric

The unscheduled principal paid to the note class or tranche during the period.

Total Principal Distribution

Dynamic

Numeric

The total principal (scheduled and unscheduled) paid to the note class or tranche during the period.

Amortisation Type

Static

List

The amortisation method in which the note class or tranche is paid periodically.

Interest Only Period Duration

Static

Numeric

Length of interest only period in months.

Capitalised Interest

Dynamic

Numeric

Any interest added to the class balance including negative amortisation.

Principal Loss

Dynamic

Numeric

The total principal loss for the reporting period.

Cumulative Principal Losses

Dynamic

Numeric

Principal losses allocated cumulative-to-date.

Ending Principal Balance

Dynamic

Numeric

The outstanding principal balance of the note class or tranche at the end of the current period.

Payment Note factor

Dynamic

Numeric

Principal paid on the note class or tranche in the reporting period as a fraction of the note or tranche original (initial) balance (0<x<1), up to 12 decimal points.

Ending Note factor

Dynamic

Numeric

Ending note class or tranche principal after the payments of the current reporting period as a fraction of the note or tranche original (initial) balance (0<x<1), up to 12 decimal points.

Next Note Payment Date

Dynamic

Date

The next period note class or tranche payment/distribution date.

Bond Interest Details

Index Rate Type

Static

List

The base reference interest index as defined in the offering document applicable to the specific note class or tranche. Current interest rate index.

Current Index Rate

Dynamic

Numeric

The current value of the index rate applied to the specific note class or tranche during the current accrual period, to a minimum of 5 decimal places.

Accrual Method

Static

List

The accrual method in which the note class or tranche is calculated periodically.

Current Accrual Days

Dynamic

Numeric

The number of accrual days applicable to the calculation of current period remittance interest.

Interest Accrued

Dynamic

Numeric

The amount of accrued interest.

Available Funds Cap Applicable

Static

Y/N

Does the Note class benefit an Available Funds Cap (AFC) mechanism?

Appraisal Reduction Amount

Dynamic

Numeric

Current appraisal reduction allocated to this class.

Cumulative Appraisal Reduction

Dynamic

Numeric

Total cumulative appraisal reduction allocated.

Other Interest Distribution

Dynamic

Numeric

Other specific additions to interest.

Current Interest Shortfall

Dynamic

Numeric

Interest shortfall amount for this reporting period for this class.

Cumulative Interest Shortfall

Dynamic

Numeric

Cumulative Interest Shortfall to date.

Total Interest Distribution

Dynamic

Numeric

The total interest payment made.

Beginning Unpaid Interest Balance

Dynamic

Numeric

Outstanding interest shortfall at the beginning of the current period.

Short-Term Unpaid Interest

Dynamic

Numeric

Any interest deferred in the current period and payable on the next Payment Date.

Long-Term Unpaid Interest

Dynamic

Numeric

Any interest deferred in the current period and payable on the Maturity Date.

Available Funds Cap Trigger Event

Dynamic

Y/N

Has an Available Funds Cap (AFC) event been triggered?

Next Period Index Rate

Dynamic

Numeric

The next period value of the Index rate.

Next Index Reset Date

Dynamic

Date

The next period Index Rate reset date.

Liquidity Facility Details

Liquidity Facility - Beginning Balance

Dynamic

Numeric

The beginning balance of the liquidity facility.

Adjustments To The Liquidity Facility

Dynamic

Numeric

Any adjustments to the liquidity facility.

Drawdowns On The Liquidity Facility

Dynamic

Numeric

Amount of drawdown on the liquidity facility.

Repayments To The Liquidity Facility

Dynamic

Numeric

Repayment amounts to the liquidity facility.

Closing Liquidity Facility Balance

Dynamic

Numeric

The closing balance.

Liquidity Facility Currency

Dynamic

List

Currency of the liquidity facility.

---

ANNEX III

Loan Level Data — Reporting template for structured finance instruments backed by loans to small and medium-sized enterprises

ASSETS:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Pool Cut-off Date | Dynamic | Date | Current pool or portfolio cut-off date. |
| Pool Identifier | Static | Text/Numeric | The unique transaction or pool identification string/transaction name. |
| Loan Identifier | Static | Text/Numeric | Unique identifier for each loan. |
| Originator | Static | Text | Lender that advanced the original loan. |
| Servicer Identifier | Static | Text/Numeric | Unique identifier per servicer to flag which entity is servicing the loan. |
| Servicer Name | Dynamic | Text | Servicer name. |
| Borrower Identifier | Static | Text/Numeric | Unique identifier per borrower — to enable borrowers with multiple loans in the pool to be identified (e.g. further advances/other loans shown as separate entries) |
| Obligor Information |
| Country | Static | List | Country of permanent establishment. |
| Postcode | Static | Text | First two or three characters must be provided at a minimum. Do not supply the full postcode. |
| Obligor Legal Form/Business Type | Static | List | |
| Borrower Basel III Segment | Static | List | |
| Originator Affiliate? | Static | Y/N | Is the borrower an affiliate of the originator? |
| Asset Type | Static | List | |
| Seniority | Dynamic | List | |
| Bank Internal Loss Given Default (LGD) Estimate | Dynamic | Numeric | Loss Given Default in normal economic conditions. |
| NACE Industry Code | Static | Text/Numeric | Borrower industry NACE Code. |
| Lease characteristics |
| Loan Origination Date | Static | Date | Date of original loan advance. |
| Final Maturity Date | Static | Date | Final maturity date of the loan. |
| Loan Denomination Currency | Static | List | Loan denomination. |
| Loan Hedged | Dynamic | Y/N | Has the specific loan been hedged for currency risk? |
| Original Loan Balance | Static | Numeric | Original total loan balance. |
| Current Balance | Dynamic | Numeric | Amount of loan outstanding as of pool cut-off date, This should include any amounts that are classed as principal in the transaction. For example if fees have been added to the loan balance and are part of the principal in the transaction these should be added. Excluding any interest arrears or penalty amounts. |
| Securitised Loan Amount | Static | Numeric | Balance of the securitised loan as of the cut-off date |
| Principal Payment Frequency | Static | List | Frequency of principal payments due, i.e. number of months between payments. |
| Interest Payment Frequency | Static | List | Frequency of interest payments due, i.e. number of months between payments. |
| Amortisation Type | Dynamic | List | Amortisation type. |
| Type of Loan | Static | List | |
| Balloon Amount | Dynamic | Numeric | The balloon payment amount |
| Payment type | Dynamic | List | |
| Interest Rate |
| Current Interest Rate | Dynamic | Numeric | Current interest rate (%) |
| Interest Cap Rate | Dynamic | Numeric | Interest rate cap (%). |
| Interest Floor Rate | Static | Numeric | Interest rate floor (%). |
| Interest Rate Type | Dynamic | List | Interest Rate Type. |
| Current Interest Rate Index | Dynamic | List | Current interest rate index (the reference rate off which the mortgage interest rate is set). |
| Current Interest Rate Margin | Dynamic | Numeric | Current interest rate margin (for fixed rate loans this is the same as the current interest rate, for floating rate loans this is the margin over or under if input as a negative) the index rate. |
| Interest Reset Period | Static | List | |
| Performance Information |
| Interest Arrears Amount | Dynamic | Numeric | Current balance of interest arrears. |
| Number of Days in Interest Arrears | Dynamic | Numeric | Number of days this loan is in arrears (at pool cut-off date) according to the definition of the issuer |
| Principal Arrears Amount | Dynamic | Numeric | Current balance of principal arrears. Arrears defined as: Total principal payments due to date LESS Total principal payments received to date LESS any amounts capitalised. |
| Number of Days in Principal Arrears | Dynamic | Numeric | Number of days this loan is in arrears (at pool cut-off date) according to the definition of the issuer. |
| Default or Foreclosure on the loan per the transaction definition | Dynamic | Y/N | Whether there has been a default or foreclosure on the loan per the transaction definition. |
| Default or Foreclosure on the loan per Basel III definition | Dynamic | Y/N | Whether there has been a default or foreclosure on the loan per Basel III definition. |
| Reason for Default (Basel II definition) | Dynamic | List | Using Basel II Definition Reason for default. |
| Default Date | Dynamic | Date | Date the loan defaulted per the transaction default definition. |
| Default Amount | Dynamic | Numeric | Total default amount (per the transaction default definition) before the application of sale proceeds and recoveries. |
| Cumulative Recoveries | Dynamic | Numeric | Total recoveries including all sale proceeds. Only relevant for loans that have defaulted/foreclosed. |
| Allocated Losses | Dynamic | Numeric | The allocated losses to date. |
| Date Loss Allocated | Dynamic | Date | The date when the loss was allocated. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Pool Cut-off Date

Dynamic

Date

Current pool or portfolio cut-off date.

Pool Identifier

Static

Text/Numeric

The unique transaction or pool identification string/transaction name.

Loan Identifier

Static

Text/Numeric

Unique identifier for each loan.

Originator

Static

Text

Lender that advanced the original loan.

Servicer Identifier

Static

Text/Numeric

Unique identifier per servicer to flag which entity is servicing the loan.

Servicer Name

Dynamic

Text

Servicer name.

Borrower Identifier

Static

Text/Numeric

Unique identifier per borrower — to enable borrowers with multiple loans in the pool to be identified (e.g. further advances/other loans shown as separate entries)

Obligor Information

Country

Static

List

Country of permanent establishment.

Postcode

Static

Text

First two or three characters must be provided at a minimum. Do not supply the full postcode.

Obligor Legal Form/Business Type

Static

List

Borrower Basel III Segment

Static

List

Originator Affiliate?

Static

Y/N

Is the borrower an affiliate of the originator?

Asset Type

Static

List

Seniority

Dynamic

List

Bank Internal Loss Given Default (LGD) Estimate

Dynamic

Numeric

Loss Given Default in normal economic conditions.

NACE Industry Code

Static

Text/Numeric

Borrower industry NACE Code.

Lease characteristics

Loan Origination Date

Static

Date

Date of original loan advance.

Final Maturity Date

Static

Date

Final maturity date of the loan.

Loan Denomination Currency

Static

List

Loan denomination.

Loan Hedged

Dynamic

Y/N

Has the specific loan been hedged for currency risk?

Original Loan Balance

Static

Numeric

Original total loan balance.

Current Balance

Dynamic

Numeric

Amount of loan outstanding as of pool cut-off date, This should include any amounts that are classed as principal in the transaction. For example if fees have been added to the loan balance and are part of the principal in the transaction these should be added. Excluding any interest arrears or penalty amounts.

Securitised Loan Amount

Static

Numeric

Balance of the securitised loan as of the cut-off date

Principal Payment Frequency

Static

List

Frequency of principal payments due, i.e. number of months between payments.

Interest Payment Frequency

Static

List

Frequency of interest payments due, i.e. number of months between payments.

Amortisation Type

Dynamic

List

Amortisation type.

Type of Loan

Static

List

Balloon Amount

Dynamic

Numeric

The balloon payment amount

Payment type

Dynamic

List

Interest Rate

Current Interest Rate

Dynamic

Numeric

Current interest rate (%)

Interest Cap Rate

Dynamic

Numeric

Interest rate cap (%).

Interest Floor Rate

Static

Numeric

Interest rate floor (%).

Interest Rate Type

Dynamic

List

Interest Rate Type.

Current Interest Rate Index

Dynamic

List

Current interest rate index (the reference rate off which the mortgage interest rate is set).

Current Interest Rate Margin

Dynamic

Numeric

Current interest rate margin (for fixed rate loans this is the same as the current interest rate, for floating rate loans this is the margin over or under if input as a negative) the index rate.

Interest Reset Period

Static

List

Performance Information

Interest Arrears Amount

Dynamic

Numeric

Current balance of interest arrears.

Number of Days in Interest Arrears

Dynamic

Numeric

Number of days this loan is in arrears (at pool cut-off date) according to the definition of the issuer

Principal Arrears Amount

Dynamic

Numeric

Current balance of principal arrears. Arrears defined as: Total principal payments due to date LESS Total principal payments received to date LESS any amounts capitalised.

Number of Days in Principal Arrears

Dynamic

Numeric

Number of days this loan is in arrears (at pool cut-off date) according to the definition of the issuer.

Default or Foreclosure on the loan per the transaction definition

Dynamic

Y/N

Whether there has been a default or foreclosure on the loan per the transaction definition.

Default or Foreclosure on the loan per Basel III definition

Dynamic

Y/N

Whether there has been a default or foreclosure on the loan per Basel III definition.

Reason for Default (Basel II definition)

Dynamic

List

Using Basel II Definition Reason for default.

Default Date

Dynamic

Date

Date the loan defaulted per the transaction default definition.

Default Amount

Dynamic

Numeric

Total default amount (per the transaction default definition) before the application of sale proceeds and recoveries.

Cumulative Recoveries

Dynamic

Numeric

Total recoveries including all sale proceeds. Only relevant for loans that have defaulted/foreclosed.

Allocated Losses

Dynamic

Numeric

The allocated losses to date.

Date Loss Allocated

Dynamic

Date

The date when the loss was allocated.

AMORTISATION PROFILE:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Outstanding Balance Period 1 | Dynamic | Numeric | Amortisation Profile with 0 % prepayments |
| Outstanding Balance Period 1 Date | Dynamic | Date | Date associated with Period 1 Balance |
| Outstanding Balance Period [2-120] | Dynamic | Numeric | Amortisation Profile with 0 % prepayments |
| Outstanding Balance Period [2-120] Date | Dynamic | Date | Date associated with Period [2-120] Balance |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Outstanding Balance Period 1

Dynamic

Numeric

Amortisation Profile with 0 % prepayments

Outstanding Balance Period 1 Date

Dynamic

Date

Date associated with Period 1 Balance

Outstanding Balance Period [2-120]

Dynamic

Numeric

Amortisation Profile with 0 % prepayments

Outstanding Balance Period [2-120] Date

Dynamic

Date

Date associated with Period [2-120] Balance

COLLATERAL:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Collateral |
| Collateral ID | Static | Text | Unique collateral code for the originating entity. |
| Loan Identifier | Static | Text/Numeric | Unique loan identifier associated with the collateral. These should match the identifiers from field ‘Loan Identifier’. |
| Security Type | Static | List | Is there a fixed or floating charge over the assets? |
| Collateral Type | Static | List | Collateral type. |
| Original Valuation Amount | Static | Numeric | Property value as of date of latest loan advance prior to a securitisation. |
| Original Valuation Date | Static | Date | Date of latest property valuation at time of latest loan advance prior to a securitisation. |
| Current Valuation Date | Dynamic | Date | This should be the date of the most recent valuation. |
| Original Valuation Type | Static | List | Valuation type at origination. |
| Ranking | Dynamic | Text | |
| Property Postcode | Static | Text | First two or three characters must be provided at a minimum. |
| Origination Channel/Arranging Bank or Division | Static | List | |
| Collateral Currency | Static | List | This should be the currency relating to the valuation amount in ‘Collateral Value’. |
| Number of Collateral Items Securing The Loan | Dynamic | Numeric | The total number of collateral pieces securing the loan. The number should reflect the number of collateral reports submitted for the loan in the current file. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Collateral

Collateral ID

Static

Text

Unique collateral code for the originating entity.

Loan Identifier

Static

Text/Numeric

Unique loan identifier associated with the collateral. These should match the identifiers from field ‘Loan Identifier’.

Security Type

Static

List

Is there a fixed or floating charge over the assets?

Collateral Type

Static

List

Collateral type.

Original Valuation Amount

Static

Numeric

Property value as of date of latest loan advance prior to a securitisation.

Original Valuation Date

Static

Date

Date of latest property valuation at time of latest loan advance prior to a securitisation.

Current Valuation Date

Dynamic

Date

This should be the date of the most recent valuation.

Original Valuation Type

Static

List

Valuation type at origination.

Ranking

Dynamic

Text

Property Postcode

Static

Text

First two or three characters must be provided at a minimum.

Origination Channel/Arranging Bank or Division

Static

List

Collateral Currency

Static

List

This should be the currency relating to the valuation amount in ‘Collateral Value’.

Number of Collateral Items Securing The Loan

Dynamic

Numeric

The total number of collateral pieces securing the loan. The number should reflect the number of collateral reports submitted for the loan in the current file.

BOND INFO:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Fields at Security or Bond Level Data |
| Report Date | Dynamic | Date | The date on which the transaction report was issued. |
| Issuer | Static | Text | Name of issuer and issue series, if applicable. |
| Drawings under Liquidity Facility | Dynamic | Y/N | If the transaction has a liquidity facility confirm whether or not there has been a drawing under the liquidity facility in the period ending on the last interest payment date. |
| Fields at Collateral Level Data |
| Trigger Measurements/Ratios | Dynamic | Y/N | Have any trigger event occurred? The status of various delinquency, dilution, default, loss and similar collateral measurements and ratios in relation to their early amortisation or other trigger event levels, as at the current determination date. |
| Average Constant Pre-payment Rate | Dynamic | Numeric | The report shall include the Average (Avg) Constant Pre-payment Rate (CPR) speed of the underlying loans. Avg CPR speed is the amount expressed as an annualised percentage of principal prepaid in excess of scheduled repayments. The Avg CPR speed is calculated by first dividing the Current Loan Principal Balance (i.e. the actual balance) by the Scheduled Loan Principal Balance assuming no pre-payments have been made (i.e. only scheduled repayments have been made). This quotient is then raised to a power whereby the exponent is the quantity twelve divided by the number of months since issue. Subtract this result from one then multiply it by one hundred (100) to determine the Avg CPR speed. |
| Fields for Transaction Report Contact Information |
| Point Contact | Static | Text | Name of the department or the point person(s) of the information sources. |
| Contact Information | Static | Text | Telephone number and e-mail address. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Fields at Security or Bond Level Data

Report Date

Dynamic

Date

The date on which the transaction report was issued.

Issuer

Static

Text

Name of issuer and issue series, if applicable.

Drawings under Liquidity Facility

Dynamic

Y/N

If the transaction has a liquidity facility confirm whether or not there has been a drawing under the liquidity facility in the period ending on the last interest payment date.

Fields at Collateral Level Data

Trigger Measurements/Ratios

Dynamic

Y/N

Have any trigger event occurred? The status of various delinquency, dilution, default, loss and similar collateral measurements and ratios in relation to their early amortisation or other trigger event levels, as at the current determination date.

Average Constant Pre-payment Rate

Dynamic

Numeric

The report shall include the Average (Avg) Constant Pre-payment Rate (CPR) speed of the underlying loans. Avg CPR speed is the amount expressed as an annualised percentage of principal prepaid in excess of scheduled repayments. The Avg CPR speed is calculated by first dividing the Current Loan Principal Balance (i.e. the actual balance) by the Scheduled Loan Principal Balance assuming no pre-payments have been made (i.e. only scheduled repayments have been made). This quotient is then raised to a power whereby the exponent is the quantity twelve divided by the number of months since issue. Subtract this result from one then multiply it by one hundred (100) to determine the Avg CPR speed.

Fields for Transaction Report Contact Information

Point Contact

Static

Text

Name of the department or the point person(s) of the information sources.

Contact Information

Static

Text

Telephone number and e-mail address.

BOND INFO BY TRANCHE:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Fields at Tranche Level |
| Bond Class Name | Static | Text/Numeric | The designation (typically a letter and/or number) given to a tranche of Bonds which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1, Class A1 etc. |
| International Securities Identification Number | Static | Text/Numeric | The security identification code assigned to each class of SME pursuant to standards established by the International Standards Organisation (ISIN) or other unique securities code established by an exchange or other entity. |
| Interest Payment Date | Dynamic | Date | The periodic date on which the last payment of interest to holders of a specific tranche of bonds is scheduled to occur. |
| Principal Payment Date | Dynamic | Date | The last periodic date on which a payment of principal to holders of a specific tranche of bonds is scheduled to occur. |
| Bond Currency | Static | Text | Bond denomination. |
| Reference Rate | Static | List | The base reference interest index as defined in the offering document (e.g. three-month Euribor) applicable to a specific tranche of bonds. |
| Legal Maturity | Static | Date | The date before which a specific tranche of bonds must be repaid in order not to be in default. |
| Bond Issue Date | Static | Date | Date the bonds were issued. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Fields at Tranche Level

Bond Class Name

Static

Text/Numeric

The designation (typically a letter and/or number) given to a tranche of Bonds which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1, Class A1 etc.

International Securities Identification Number

Static

Text/Numeric

The security identification code assigned to each class of SME pursuant to standards established by the International Standards Organisation (ISIN) or other unique securities code established by an exchange or other entity.

Interest Payment Date

Dynamic

Date

The periodic date on which the last payment of interest to holders of a specific tranche of bonds is scheduled to occur.

Principal Payment Date

Dynamic

Date

The last periodic date on which a payment of principal to holders of a specific tranche of bonds is scheduled to occur.

Bond Currency

Static

Text

Bond denomination.

Reference Rate

Static

List

The base reference interest index as defined in the offering document (e.g. three-month Euribor) applicable to a specific tranche of bonds.

Legal Maturity

Static

Date

The date before which a specific tranche of bonds must be repaid in order not to be in default.

Bond Issue Date

Static

Date

Date the bonds were issued.

---

ANNEX IV

Loan Level Data — Reporting template for structured finance instruments backed by auto-loans

ASSETS:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Deal-Specific Information |
| Pool Cut-off Date | Dynamic | YYYY-MM-DD | Pool or portfolio cut-off date. This is the date at which the underlying asset data within the report is referenced. |
| Pool Identifier | Static | Text/Numeric | Pool or portfolio identifier/name of transaction. |
| Servicer Name | Dynamic | Text/Numeric | Unique identifier per servicer to flag which entity is servicing the loan or lease. |
| Backup Servicer Name | Dynamic | Text | Name of the Backup Servicer. |
| Loan or Lease-Level Information |
| Loan or Lease Identifier | Static | Text/Numeric | Unique identifier for the loan or lease. The ID should not change through the life of the transaction. |
| Originator | Static | Text | Lender that advanced the original loan or lease. |
| Borrower Identifier | Static | Text/Numeric | Unique identifier for the borrower or lessee. |
| Group Company Identifier | Dynamic | Text | Unique group company identifier which identifies the borrower’s ultimate parent company. |
| Loan or Lease Currency Denomination | Static | List | The loan or lease currency denomination. |
| Borrower’s Employment Status | Static | List | Employment status of the primary applicant. |
| Primary Income | Static | 9(11).99 | Primary borrower underwritten gross annual income. |
| Primary Income Currency | Static | List | The income currency denomination |
| Amortisation Type | Dynamic | List | Amortisation type. |
| Income Verification for Primary Income | Static | List | Income verification for primary income. |
| Geographic Region | Static | List | The region where the borrower is located as at underwriting. |
| Origination Date | Static | YYYY-MM | Date of original loan advance or lease commencement. |
| Expected Loan or Lease Maturity | Dynamic | YYYY-MM | The expected date of maturity of the loan or expiry of the lease. |
| Original Loan or Lease Term | Static | Numeric | Original contractual term (number of months). |
| Pool Addition Date | Static | YYYY-MM | The date that the loan or lease was transferred to the SPV. |
| Original Principal Balance | Static | 9(11).99 | Borrower’s loan principal balance or discounted lease balance (inclusive of capitalised fees) at origination. |
| Current Principal Outstanding Balance | Dynamic | 9(11).99 | Borrower’s loan or discounted lease balance outstanding as of the pool cut-off date. This should include any amounts that are secured against the vehicle. For example, if fees have been added to the balance and are part of the principal in the transaction, these should be added. |
| Scheduled Payment Due | Dynamic | 9(11).99 | The next contractual scheduled payment due (the payment due if there are no other payment arrangements in force). |
| Scheduled Payment Frequency | Dynamic | List | Scheduled payment frequency. |
| Down Payment Amount | Static | 9(11).99 | Amount of deposit/down payment on origination of loan or lease (this should include the value of traded-in vehicles etc.) |
| Original Loan to Value | Static | 9(3).99 | The LTV of the vehicle at origination, which may be rounded to the nearest 5 per cent. |
| Product Type | Static | List | Product type. |
| Option to Buy Price | Static | 9(11).99 | The amount the borrower has to pay at the end of the lease or loan in order to take ownership of the vehicle. |
| Interest Rate Reset Interval | Static | 9(2).99 | Number of months between each interest rate reset date on the loan or lease. |
| Current Interest or Discount Rate | Dynamic | 9(4).9(5) | Total current interest or discount rate (%) applicable to the loan or lease (may be rounded to the nearest half a per cent). |
| Current Interest Rate Basis | Dynamic | List | Current interest rate basis. |
| Current Interest Rate Margin | Dynamic | 9(4).9(5) | Current interest rate (%) margin of the loan or lease (may be rounded to the nearest half a per cent). For fixed-rate loans, this is the same as Current Interest or Discount Rate. For floating rate loans this is the margin over (or under, in which case input as a negative) the index rate. |
| Discount Rate | Static | 9(4).9(5) | Discount rate applied to the receivable when it was sold to the SPV (may be rounded to the nearest half per cent). |
| Car Manufacturer | Static | Text | Brand name of the vehicle manufacturer. |
| Car Model | Static | Text/Numeric | Name of the car model. |
| New or Used Car | Static | List | Condition of vehicle at point of loan or lease origination. |
| Original Residual Value of Vehicle | Static | 9(11).99 | The estimated residual value of the vehicle, at the date of loan or lease origination. Response may be rounded. |
| Securitised Residual Value | Static | 9(11).99 | Residual value amount which has been securitised only. Response may be rounded. |
| Updated Residual Value of Vehicle | Dynamic | 9(11).99 | Most recent estimated residual value of vehicle at end of contract. Response may be rounded. |
| Date of Updated Residual Valuation of Vehicle | Dynamic | YYYY-MM | The date that the most recent updated estimation of the residual value of the vehicle was calculated. If no update has been performed, enter the date of the original valuation. |
| Customer Type | Static | List | Legal form of customer. |
| Payment method | Dynamic | List | Usual method of payment (can be based upon last payment received). |
| Date Removed from the Pool | Dynamic | YYYY-MM | Date that the loan or lease was removed from the pool, e.g. on repurchase, redemption, prepayment or end of recovery process. |
| Interest Cap Rate | Dynamic | 9(4).9(8) | If there is a cap to the interest rate that can be charged on this account, enter this cap here — do not include the % symbol. |
| Interest Floor Rate | Dynamic | 9(4).9(8) | If there is a floor to the interest rate that can be charged on this account, enter this floor here — do not include the % symbol. |
| Arrears Balance | Dynamic | 9(11).99 | Current balance of arrears. |
| Number of Months in Arrears | Dynamic | 9(5).99 | Number of months the loan or lease is in arrears as of the pool cut-off date. |
| Default Date | Dynamic | YYYY-MM | The date of default. |
| Gross Default Amount | Dynamic | 9(11).99 | Gross default amount on this account. |
| Sale Price | Dynamic | 9(11).99 | |
| Loss on Sale | Dynamic | 9(11).99 | Gross default amount less sale proceeds (excluding prepayment charge if subordinate to principal recoveries). |
| Cumulative Recoveries | Dynamic | 9(11).99 | Cumulative recoveries on this account, net of costs. |
| Redemption Date | Dynamic | YYYY-MM | Date on which account redeemed or date that the recovery process was completed for defaulted loans. |
| Residual Value Losses | Dynamic | 9(11).99 | Residual value loss arising on turn-in of vehicle. |
| Account Status | Dynamic | List | Current status of account |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Deal-Specific Information

Pool Cut-off Date

Dynamic

YYYY-MM-DD

Pool or portfolio cut-off date. This is the date at which the underlying asset data within the report is referenced.

Pool Identifier

Static

Text/Numeric

Pool or portfolio identifier/name of transaction.

Servicer Name

Dynamic

Text/Numeric

Unique identifier per servicer to flag which entity is servicing the loan or lease.

Backup Servicer Name

Dynamic

Text

Name of the Backup Servicer.

Loan or Lease-Level Information

Loan or Lease Identifier

Static

Text/Numeric

Unique identifier for the loan or lease. The ID should not change through the life of the transaction.

Originator

Static

Text

Lender that advanced the original loan or lease.

Borrower Identifier

Static

Text/Numeric

Unique identifier for the borrower or lessee.

Group Company Identifier

Dynamic

Text

Unique group company identifier which identifies the borrower’s ultimate parent company.

Loan or Lease Currency Denomination

Static

List

The loan or lease currency denomination.

Borrower’s Employment Status

Static

List

Employment status of the primary applicant.

Primary Income

Static

9(11).99

Primary borrower underwritten gross annual income.

Primary Income Currency

Static

List

The income currency denomination

Amortisation Type

Dynamic

List

Amortisation type.

Income Verification for Primary Income

Static

List

Income verification for primary income.

Geographic Region

Static

List

The region where the borrower is located as at underwriting.

Origination Date

Static

YYYY-MM

Date of original loan advance or lease commencement.

Expected Loan or Lease Maturity

Dynamic

YYYY-MM

The expected date of maturity of the loan or expiry of the lease.

Original Loan or Lease Term

Static

Numeric

Original contractual term (number of months).

Pool Addition Date

Static

YYYY-MM

The date that the loan or lease was transferred to the SPV.

Original Principal Balance

Static

9(11).99

Borrower’s loan principal balance or discounted lease balance (inclusive of capitalised fees) at origination.

Current Principal Outstanding Balance

Dynamic

9(11).99

Borrower’s loan or discounted lease balance outstanding as of the pool cut-off date. This should include any amounts that are secured against the vehicle. For example, if fees have been added to the balance and are part of the principal in the transaction, these should be added.

Scheduled Payment Due

Dynamic

9(11).99

The next contractual scheduled payment due (the payment due if there are no other payment arrangements in force).

Scheduled Payment Frequency

Dynamic

List

Scheduled payment frequency.

Down Payment Amount

Static

9(11).99

Amount of deposit/down payment on origination of loan or lease (this should include the value of traded-in vehicles etc.)

Original Loan to Value

Static

9(3).99

The LTV of the vehicle at origination, which may be rounded to the nearest 5 per cent.

Product Type

Static

List

Product type.

Option to Buy Price

Static

9(11).99

The amount the borrower has to pay at the end of the lease or loan in order to take ownership of the vehicle.

Interest Rate Reset Interval

Static

9(2).99

Number of months between each interest rate reset date on the loan or lease.

Current Interest or Discount Rate

Dynamic

9(4).9(5)

Total current interest or discount rate (%) applicable to the loan or lease (may be rounded to the nearest half a per cent).

Current Interest Rate Basis

Dynamic

List

Current interest rate basis.

Current Interest Rate Margin

Dynamic

9(4).9(5)

Current interest rate (%) margin of the loan or lease (may be rounded to the nearest half a per cent). For fixed-rate loans, this is the same as Current Interest or Discount Rate. For floating rate loans this is the margin over (or under, in which case input as a negative) the index rate.

Discount Rate

Static

9(4).9(5)

Discount rate applied to the receivable when it was sold to the SPV (may be rounded to the nearest half per cent).

Car Manufacturer

Static

Text

Brand name of the vehicle manufacturer.

Car Model

Static

Text/Numeric

Name of the car model.

New or Used Car

Static

List

Condition of vehicle at point of loan or lease origination.

Original Residual Value of Vehicle

Static

9(11).99

The estimated residual value of the vehicle, at the date of loan or lease origination. Response may be rounded.

Securitised Residual Value

Static

9(11).99

Residual value amount which has been securitised only. Response may be rounded.

Updated Residual Value of Vehicle

Dynamic

9(11).99

Most recent estimated residual value of vehicle at end of contract. Response may be rounded.

Date of Updated Residual Valuation of Vehicle

Dynamic

YYYY-MM

The date that the most recent updated estimation of the residual value of the vehicle was calculated. If no update has been performed, enter the date of the original valuation.

Customer Type

Static

List

Legal form of customer.

Payment method

Dynamic

List

Usual method of payment (can be based upon last payment received).

Date Removed from the Pool

Dynamic

YYYY-MM

Date that the loan or lease was removed from the pool, e.g. on repurchase, redemption, prepayment or end of recovery process.

Interest Cap Rate

Dynamic

9(4).9(8)

If there is a cap to the interest rate that can be charged on this account, enter this cap here — do not include the % symbol.

Interest Floor Rate

Dynamic

9(4).9(8)

If there is a floor to the interest rate that can be charged on this account, enter this floor here — do not include the % symbol.

Arrears Balance

Dynamic

9(11).99

Current balance of arrears.

Number of Months in Arrears

Dynamic

9(5).99

Number of months the loan or lease is in arrears as of the pool cut-off date.

Default Date

Dynamic

YYYY-MM

The date of default.

Gross Default Amount

Dynamic

9(11).99

Gross default amount on this account.

Sale Price

Dynamic

9(11).99

Loss on Sale

Dynamic

9(11).99

Gross default amount less sale proceeds (excluding prepayment charge if subordinate to principal recoveries).

Cumulative Recoveries

Dynamic

9(11).99

Cumulative recoveries on this account, net of costs.

Redemption Date

Dynamic

YYYY-MM

Date on which account redeemed or date that the recovery process was completed for defaulted loans.

Residual Value Losses

Dynamic

9(11).99

Residual value loss arising on turn-in of vehicle.

Account Status

Dynamic

List

Current status of account

BOND INFO:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Bond-Level Information |
| Report Date | Dynamic | YYYY-MM-DD | The date on which the transaction report was issued, i.e. the submission date of the completed loan-level data template to the data repository. |
| Issuer | Static | Text | Name of issuer and issue series, if applicable. |
| All Reserve Accounts at Target Balance | Dynamic | Y/N | Are all reserve accounts (cash reserve, commingling reserve, set-off reserve etc.) at their required levels? |
| Drawings under Liquidity Facility | Dynamic | Y/N | Has the liquidity facility been used to cover shortfalls in the period ending on the last interest payment date? |
| Trigger Measurements/Ratios | Dynamic | Y/N | Has any trigger event occurred? |
| Annualised Constant Prepayment Rate | Dynamic | 9(3).99 | The annualised Constant Prepayment Rate (CPR) of the underlying receivables based upon the most recent periodic CPR. Periodic CPR is equal to the total unscheduled principal received in the most recent period divided by the start of period principal balance. |
| Total Receivables Sold to SPV | Dynamic | 9(11).99 | Sum of principal amount of receivables sold to SPV (i.e. at closing and during the replenishment period if applicable) to date. |
| Cumulative Gross Defaults – Pool | Dynamic | 9(11).99 | Sum of all gross defaults since closing, in currency amount. |
| Cumulative Recoveries - Pool | Dynamic | 9(11).99 | Sum of all recoveries since closing, net of costs, in currency amount. |
| Revolving Period End Date | Dynamic | YYYY-MM | The date that the revolving period is expected to end, or actually ended. |
| Transaction Report Contact Information |
| Point Contact | Static | Text/Numeric | Name of the department and the point person(s) of the information sources. |
| Contact Information | Static | Text/Numeric | Telephone number and e-mail address. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Bond-Level Information

Report Date

Dynamic

YYYY-MM-DD

The date on which the transaction report was issued, i.e. the submission date of the completed loan-level data template to the data repository.

Issuer

Static

Text

Name of issuer and issue series, if applicable.

All Reserve Accounts at Target Balance

Dynamic

Y/N

Are all reserve accounts (cash reserve, commingling reserve, set-off reserve etc.) at their required levels?

Drawings under Liquidity Facility

Dynamic

Y/N

Has the liquidity facility been used to cover shortfalls in the period ending on the last interest payment date?

Trigger Measurements/Ratios

Dynamic

Y/N

Has any trigger event occurred?

Annualised Constant Prepayment Rate

Dynamic

9(3).99

The annualised Constant Prepayment Rate (CPR) of the underlying receivables based upon the most recent periodic CPR. Periodic CPR is equal to the total unscheduled principal received in the most recent period divided by the start of period principal balance.

Total Receivables Sold to SPV

Dynamic

9(11).99

Sum of principal amount of receivables sold to SPV (i.e. at closing and during the replenishment period if applicable) to date.

Cumulative Gross Defaults – Pool

Dynamic

9(11).99

Sum of all gross defaults since closing, in currency amount.

Cumulative Recoveries - Pool

Dynamic

9(11).99

Sum of all recoveries since closing, net of costs, in currency amount.

Revolving Period End Date

Dynamic

YYYY-MM

The date that the revolving period is expected to end, or actually ended.

Transaction Report Contact Information

Point Contact

Static

Text/Numeric

Name of the department and the point person(s) of the information sources.

Contact Information

Static

Text/Numeric

Telephone number and e-mail address.

BOND INFO BY TRANCHE:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Tranche Level Information |
| Bond Class Name | Static | Text/Numeric | The designation (typically a letter and/or number) given to this tranche of bonds which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1 Class A1a etc. |
| International Securities Identification Number | Static | Text/Numeric | The international security identification code or codes, or if no ISIN, then any other unique securities code such as a CUSIP, assigned to this tranche by an exchange or other entity. If more than one code, enter comma- delimited. |
| Interest Payment Date | Dynamic | YYYY-MM-DD | The first occurring date, after the pool cut-off date being reported, upon which interest payments are scheduled to be distributed to bondholders of this tranche. |
| Principal Payment Date | Dynamic | YYYY-MM-DD | The first occurring date, after the pool cut-off date being reported, upon which principal payments are scheduled to be distributed to bondholders of this tranche. |
| Bond Currency | Static | List | The denomination of this tranche. |
| Reference Rate | Static | List | The base reference interest index as defined in the offering document (e.g. three months Euribor) applicable to this specific tranche. |
| Legal Maturity | Static | YYYY-MM-DD | The date before which this specific tranche must be repaid in order not to be in default. |
| Bond Issue Date | Static | YYYY-MM-DD | Date the bonds were issued. |
| Interest Payment Frequency | Static | List | The frequency with which interest is due to be paid on this tranche. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Tranche Level Information

Bond Class Name

Static

Text/Numeric

The designation (typically a letter and/or number) given to this tranche of bonds which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1 Class A1a etc.

International Securities Identification Number

Static

Text/Numeric

The international security identification code or codes, or if no ISIN, then any other unique securities code such as a CUSIP, assigned to this tranche by an exchange or other entity. If more than one code, enter comma- delimited.

Interest Payment Date

Dynamic

YYYY-MM-DD

The first occurring date, after the pool cut-off date being reported, upon which interest payments are scheduled to be distributed to bondholders of this tranche.

Principal Payment Date

Dynamic

YYYY-MM-DD

The first occurring date, after the pool cut-off date being reported, upon which principal payments are scheduled to be distributed to bondholders of this tranche.

Bond Currency

Static

List

The denomination of this tranche.

Reference Rate

Static

List

The base reference interest index as defined in the offering document (e.g. three months Euribor) applicable to this specific tranche.

Legal Maturity

Static

YYYY-MM-DD

The date before which this specific tranche must be repaid in order not to be in default.

Bond Issue Date

Static

YYYY-MM-DD

Date the bonds were issued.

Interest Payment Frequency

Static

List

The frequency with which interest is due to be paid on this tranche.

---

ANNEX V

Loan Level Data — Reporting template for structured finance instruments backed by loans to consumers

ASSETS:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Deal-Specific Information |
| Pool Cut-off Date | Dynamic | YYYY-MM-DD | Pool or Portfolio cut-off date. This is the date at which the underlying asset data within the report is referenced. |
| Pool Identifier | Static | Text/Numeric | Pool or Portfolio identifier/name of transaction. |
| Servicer Name | Dynamic | Text/Numeric | Unique identifier per servicer to flag which entity is servicing the loan. |
| Backup Servicer Name | Dynamic | Text | Name of the Backup Servicer. |
| Loan Level Information |
| Loan Identifier | Static | Text/Numeric | Unique identifier for a particular loan in the pool. |
| Originator | Static | Text | Lender that advanced the original loan. |
| Borrower Identifier | Static | Text/Numeric | Unique identifier for a borrower. This must be encrypted (i.e. not the actual identification number) to ensure anonymity of the borrower. |
| Loan Currency Denomination | Static | List | Loan currency denomination. |
| Total Credit Limit | Dynamic | 9(11).99 | For loans with flexible re-draw/revolving characteristics — the maximum loan amount that could potentially be outstanding. |
| Revolving End Date - Loan | Dynamic | YYYY-MM | For loans with flexible re-draw/revolving characteristics — the date when the flexible features are expected to expire, i.e. when the revolving period will end. |
| Borrower's Employment Status | Static | List | Employment status of the primary applicant. |
| Primary Income | Static | 9(11).99 | Primary borrower underwritten gross annual income (not rent). Should be rounded to the nearest 1 000 units. |
| Primary Income Currency | Static | List | The income currency denomination. |
| Income Verification for Primary Income | Static | List | Income verification for primary income. |
| Geographic Region | Static | List | The region where the borrower is located. |
| Origination Date | Static | YYYY-MM | Date of original loan advance. |
| Expected Loan Maturity | Dynamic | YYYY-MM | The expected date of maturity of the loan. |
| Original Loan Term | Static | Numeric | Original contractual term (number of months). |
| Pool Addition Date | Static | YYYY-MM | The date that the loan was transferred to the SPV. |
| Original Principal Balance | Static | 9(11).99 | Original loan principal balance (inclusive of capitalised fees) at origination. |
| Current Principal Outstanding Balance | Dynamic | 9(11).99 | The loan principal balance outstanding as of the pool cut-off date. Exclude any interest arrears or penalty amounts. |
| Scheduled Payment Due | Dynamic | 9(11).99 | The next contractual scheduled payment due (the payment due if there are no other payment arrangements in force). |
| Scheduled Payment Frequency | Dynamic | List | Payment frequency. |
| Repayment Method | Dynamic | List | Type of principal repayment. |
| Interest Rate Reset Interval | Static | 9(2).99 | Number of months between each interest rate reset date. |
| Current Interest Rate | Dynamic | 9(4).9(8) | Total current interest rate (%) applicable to the loan. Do not include the % symbol. |
| Current Interest Rate Basis | Dynamic | List | Current interest rate basis. |
| Current Interest Rate Margin | Dynamic | 9(4).9(5) | Current interest rate (%) margin of the loan. For fixed-rate loans, this is the same as Current Interest Rate. |
| Number of Borrowers | Dynamic | Numeric | Number of borrowers to the loan. |
| Percentage of Prepayments allowed | Dynamic | 9(3).99 | Maximum percentage of the outstanding balance allowed annually as a prepayment without incurring a penalty. Do not include the % symbol. |
| Early Repayment Charges | Dynamic | 9(3).99 | Percentage of the outstanding balance which is payable as a charge if the prepayment limit is exceeded. Do not include the % symbol. |
| Customer Type | Static | List | Customer type at origination. |
| Payment Method | Dynamic | List | Usual method of payment (can be based upon last payment received). |
| Date Removed from the Pool | Dynamic | YYYY-MM | Date that the loan was removed from the pool, e.g. on repurchase, redemption, prepayment or end of recovery process. |
| Employee | Static | Y/N | Is the borrower an employee of the originator? |
| Interest Cap Rate | Dynamic | 9(4).9(8) | If there is a cap to the interest rate that can be charged on this account, enter this cap here. |
| Interest Floor Rate | Dynamic | 9(4).9(8) | If there is a floor to the interest rate that can be charged on this account, enter this floor here. |
| Performance Information |
| Arrears Balance | Dynamic | 9(11).99 | Current balance of arrears, defined as the sum of minimum contractual payments due but unpaid by the borrower. |
| Number of Months in Arrears | Dynamic | 9(5).99 | Number of months the loan is in arrears as of the pool cut-off date. |
| Default Date | Dynamic | YYYY-MM | The date of default. |
| Gross Default Amount | Dynamic | 9(11).99 | Gross default amount on this account. |
| Cumulative Recoveries | Dynamic | 9(11).99 | Cumulative recoveries on this account, net of costs. |
| Redemption Date | Dynamic | YYYY-MM | Date on which account redeemed or the date that the recovery process was completed for defaulted loans. |
| Account Status | Dynamic | List | Current status of account. |
| Arrears Balance Capitalised | Dynamic | 9(11).99 | Sum of arrears capitalised to date. |
| Date of Most Recent Arrears Capitalisation | Dynamic | YYYY-MM | Most recent date that arrears were capitalised on this account. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Deal-Specific Information

Pool Cut-off Date

Dynamic

YYYY-MM-DD

Pool or Portfolio cut-off date. This is the date at which the underlying asset data within the report is referenced.

Pool Identifier

Static

Text/Numeric

Pool or Portfolio identifier/name of transaction.

Servicer Name

Dynamic

Text/Numeric

Unique identifier per servicer to flag which entity is servicing the loan.

Backup Servicer Name

Dynamic

Text

Name of the Backup Servicer.

Loan Level Information

Loan Identifier

Static

Text/Numeric

Unique identifier for a particular loan in the pool.

Originator

Static

Text

Lender that advanced the original loan.

Borrower Identifier

Static

Text/Numeric

Unique identifier for a borrower. This must be encrypted (i.e. not the actual identification number) to ensure anonymity of the borrower.

Loan Currency Denomination

Static

List

Loan currency denomination.

Total Credit Limit

Dynamic

9(11).99

For loans with flexible re-draw/revolving characteristics — the maximum loan amount that could potentially be outstanding.

Revolving End Date - Loan

Dynamic

YYYY-MM

For loans with flexible re-draw/revolving characteristics — the date when the flexible features are expected to expire, i.e. when the revolving period will end.

Borrower's Employment Status

Static

List

Employment status of the primary applicant.

Primary Income

Static

9(11).99

Primary borrower underwritten gross annual income (not rent). Should be rounded to the nearest 1 000 units.

Primary Income Currency

Static

List

The income currency denomination.

Income Verification for Primary Income

Static

List

Income verification for primary income.

Geographic Region

Static

List

The region where the borrower is located.

Origination Date

Static

YYYY-MM

Date of original loan advance.

Expected Loan Maturity

Dynamic

YYYY-MM

The expected date of maturity of the loan.

Original Loan Term

Static

Numeric

Original contractual term (number of months).

Pool Addition Date

Static

YYYY-MM

The date that the loan was transferred to the SPV.

Original Principal Balance

Static

9(11).99

Original loan principal balance (inclusive of capitalised fees) at origination.

Current Principal Outstanding Balance

Dynamic

9(11).99

The loan principal balance outstanding as of the pool cut-off date. Exclude any interest arrears or penalty amounts.

Scheduled Payment Due

Dynamic

9(11).99

The next contractual scheduled payment due (the payment due if there are no other payment arrangements in force).

Scheduled Payment Frequency

Dynamic

List

Payment frequency.

Repayment Method

Dynamic

List

Type of principal repayment.

Interest Rate Reset Interval

Static

9(2).99

Number of months between each interest rate reset date.

Current Interest Rate

Dynamic

9(4).9(8)

Total current interest rate (%) applicable to the loan. Do not include the % symbol.

Current Interest Rate Basis

Dynamic

List

Current interest rate basis.

Current Interest Rate Margin

Dynamic

9(4).9(5)

Current interest rate (%) margin of the loan. For fixed-rate loans, this is the same as Current Interest Rate.

Number of Borrowers

Dynamic

Numeric

Number of borrowers to the loan.

Percentage of Prepayments allowed

Dynamic

9(3).99

Maximum percentage of the outstanding balance allowed annually as a prepayment without incurring a penalty. Do not include the % symbol.

Early Repayment Charges

Dynamic

9(3).99

Percentage of the outstanding balance which is payable as a charge if the prepayment limit is exceeded. Do not include the % symbol.

Customer Type

Static

List

Customer type at origination.

Payment Method

Dynamic

List

Usual method of payment (can be based upon last payment received).

Date Removed from the Pool

Dynamic

YYYY-MM

Date that the loan was removed from the pool, e.g. on repurchase, redemption, prepayment or end of recovery process.

Employee

Static

Y/N

Is the borrower an employee of the originator?

Interest Cap Rate

Dynamic

9(4).9(8)

If there is a cap to the interest rate that can be charged on this account, enter this cap here.

Interest Floor Rate

Dynamic

9(4).9(8)

If there is a floor to the interest rate that can be charged on this account, enter this floor here.

Performance Information

Arrears Balance

Dynamic

9(11).99

Current balance of arrears, defined as the sum of minimum contractual payments due but unpaid by the borrower.

Number of Months in Arrears

Dynamic

9(5).99

Number of months the loan is in arrears as of the pool cut-off date.

Default Date

Dynamic

YYYY-MM

The date of default.

Gross Default Amount

Dynamic

9(11).99

Gross default amount on this account.

Cumulative Recoveries

Dynamic

9(11).99

Cumulative recoveries on this account, net of costs.

Redemption Date

Dynamic

YYYY-MM

Date on which account redeemed or the date that the recovery process was completed for defaulted loans.

Account Status

Dynamic

List

Current status of account.

Arrears Balance Capitalised

Dynamic

9(11).99

Sum of arrears capitalised to date.

Date of Most Recent Arrears Capitalisation

Dynamic

YYYY-MM

Most recent date that arrears were capitalised on this account.

BOND INFO:

| Field Name | Dynamic/Static | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Security or Bond Level Information |
| Report Date | Dynamic | YYYY-MM-DD | The date on which the transaction report was issued, i.e. the submission date of the completed loan-level data template to the data repository. |
| Issuer | Static | Text | Name of issuer and issue series, if applicable. |
| All Reserve Accounts at Target Balance | Dynamic | Y/N | Are all reserve accounts (cash reserve, commingling reserve, set-off reserve etc.) at their required levels? |
| Drawings under Liquidity Facility | Dynamic | Y/N | Has the liquidity facility been used to cover shortfalls in the period ending on the last interest payment date? |
| Trigger Measurements/Ratios | Dynamic | Y/N | Has any trigger event occurred? |
| Annualised Constant Prepayment Rate | Dynamic | 9(3).99 | The annualised Constant Prepayment Rate (CPR) of the underlying receivables based upon the most recent periodic CPR. Periodic CPR is equal to the total unscheduled principal received in the most recent period divided by the start of period principal balance. This is then annualised as follows: | 1-((1-Periodic CPR)^number of periods in a year) |

Field Name

Dynamic/Static

Data Type

Field Definition and Criteria

Security or Bond Level Information

Report Date

Dynamic

YYYY-MM-DD

The date on which the transaction report was issued, i.e. the submission date of the completed loan-level data template to the data repository.

Issuer

Static

Text

Name of issuer and issue series, if applicable.

All Reserve Accounts at Target Balance

Dynamic

Y/N

Are all reserve accounts (cash reserve, commingling reserve, set-off reserve etc.) at their required levels?

Drawings under Liquidity Facility

Dynamic

Y/N

Has the liquidity facility been used to cover shortfalls in the period ending on the last interest payment date?

Trigger Measurements/Ratios

Dynamic

Y/N

Has any trigger event occurred?

Annualised Constant Prepayment Rate

Dynamic

9(3).99

The annualised Constant Prepayment Rate (CPR) of the underlying receivables based upon the most recent periodic CPR. Periodic CPR is equal to the total unscheduled principal received in the most recent period divided by the start of period principal balance. This is then annualised as follows:

1-((1-Periodic CPR)^number of periods in a year)

| | Do not include the % symbol. |
| --- | --- |

Do not include the % symbol.

Total Receivables Sold to SPV

Dynamic

9(11).99

Sum of principal amount of receivables sold to SPV (i.e. at closing and during the replenishment period if applicable) to date.

Cumulative Gross Defaults – Pool

Dynamic

9(11).99

Sum of all gross defaults since closing, in currency amount.

Cumulative Recoveries - Pool

Dynamic

9(11).99

Sum of all recoveries in the pool since closing, net of costs, in currency amount.

Revolving Period End Date

Dynamic

YYYY-MM

The date that the transaction revolving period is expected to end, or actually ended.

Transaction Report Contact Information

Point Contact

Static

Text/Numeric

Name of the department and the point person(s) of the information sources.

Contact Information

Static

Text/Numeric

Telephone number and e-mail address.

BOND INFO BY TRANCHE:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Tranche Level Information |
| Bond Class Name | Static | Text/Numeric | The designation (typically a letter and/or number) given to a tranche of bonds which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1 Class A1a etc. |
| International Securities Identification Number | Static | Text/Numeric | The international security identification code or codes, or if no ISIN then any other unique securities code such as a CUSIP, assigned to this tranche by an exchange or other entity. If more than one code, enter comma-delimited. |
| Interest Payment Date | Dynamic | YYYY-MM-DD | The first occurring date, after the pool cut-off date being reported, upon which interest payments are scheduled to be distributed to bondholders of this tranche. |
| Principal Payment Date | Dynamic | YYYY-MM-DD | The first occurring date, after the pool cut-off date being reported, upon which principal payments are scheduled to be distributed to bondholders of this tranche. |
| Bond Currency | Static | List | The denomination of this tranche. |
| Reference Rate | Static | List | The base reference interest index as defined in the prospectus applicable to this specific tranche. |
| Legal Maturity | Static | YYYY-MM-DD | The date by which this specific tranche must be fully repaid in order not to be in default. |
| Bond Issue Date | Static | YYYY-MM-DD | Date the bonds were issued. |
| Interest Payment Frequency | Static | List | The frequency with which interest is due to be paid on this tranche. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Tranche Level Information

Bond Class Name

Static

Text/Numeric

The designation (typically a letter and/or number) given to a tranche of bonds which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1 Class A1a etc.

International Securities Identification Number

Static

Text/Numeric

The international security identification code or codes, or if no ISIN then any other unique securities code such as a CUSIP, assigned to this tranche by an exchange or other entity. If more than one code, enter comma-delimited.

Interest Payment Date

Dynamic

YYYY-MM-DD

The first occurring date, after the pool cut-off date being reported, upon which interest payments are scheduled to be distributed to bondholders of this tranche.

Principal Payment Date

Dynamic

YYYY-MM-DD

The first occurring date, after the pool cut-off date being reported, upon which principal payments are scheduled to be distributed to bondholders of this tranche.

Bond Currency

Static

List

The denomination of this tranche.

Reference Rate

Static

List

The base reference interest index as defined in the prospectus applicable to this specific tranche.

Legal Maturity

Static

YYYY-MM-DD

The date by which this specific tranche must be fully repaid in order not to be in default.

Bond Issue Date

Static

YYYY-MM-DD

Date the bonds were issued.

Interest Payment Frequency

Static

List

The frequency with which interest is due to be paid on this tranche.

---

ANNEX VI

Loan Level Data — Reporting template for structured finance instruments backed by credit card loans

ASSETS:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Deal-Specific Information |
| Pool Cut-Off Date | Dynamic | YYYY-MM-DD | Pool or portfolio cut-off date. This is the date at which the underlying asset data within the report is referenced. |
| Pool Identifier | Static | Text/Numeric | Pool or portfolio identifier, e.g. Master Issuer plc, or SPV 2012-1 plc. |
| Servicer Name | Static | Text/Numeric | Name of the entity servicing the account. |
| Backup Servicer Name | Dynamic | Text/Numeric | Name of the backup servicer. |
| Seller | Static | Text/Numeric | Name of Seller. |
| Type of Transaction | Static | List | Standalone, Master Trust — Capitalist, Master Trust — Socialist or Other. |
| Loan Level Information |
| Account Identifier | Static | Text/Numeric | Unique identifier for a particular account in the pool. It must be encrypted to ensure data protection. |
| Originator | Static | Text/Numeric | Lender that originated the account. If unknown, please enter Seller. |
| Borrower Identifier | Static | Text/Numeric | Unique identifier for a particular borrower; must be encrypted to ensure data protection. This may be the same as the Account Identifier. |
| Currency Denomination Of Receivable | Static | List | The currency in which the receivable is denominated. |
| Pool Addition Date | Static | YYYY-MM | Date that the account entered the pool. |
| Borrower’s Employment Status | Static | List | Employment status of the primary applicant. |
| Primary Income Currency | Static | List | Primary income currency denomination. |
| Income Verification For Primary Income | Static | List | Income verification for primary income. |
| Geographic Region | Dynamic | List | The region where the borrower is located. |
| Employee | Static | Y/N | Is the borrower an employee of the originator or seller? |
| Account Opening Date | Static | YYYY-MM | The date that the account was opened. |
| Total Current Balance | Dynamic | 9(11).99 | What is the total current amount owed by the borrower (including all fees and interest) on the account? |
| Total Credit Limit | Dynamic | 9(11).99 | What is the credit limit of the borrower on the account? |
| Scheduled Payment Frequency | Dynamic | List | What is the minimum frequency with which the borrower are obliged to make payments if they have a balance outstanding. |
| Next Minimum Contractual Payment | Dynamic | 9(11).99 | The next minimum scheduled payment due from the borrower. |
| Current Blended Yield | Dynamic | 9(3).99 | Total weighted average yield including all fees applicable at last billing date (i.e. this is billed, not cash yield) (%). |
| Current Interest Rate Basis | Dynamic | List | Current interest rate basis. |
| Account Status | Dynamic | List | Current status of account. |
| Arrears Balance | Dynamic | 9(11).99 | Current balance of arrears, defined as the sum of minimum contractual payments due but unpaid by the borrower. |
| Arrears Balance Capitalised | Dynamic | 9(11).99 | Sum of arrears capitalised to date. |
| Date of Most Recent Arrears Capitalisation | Dynamic | YYYY-MM | Most recent date that arrears were capitalised on this card. |
| Number Of Days In Arrears | Dynamic | Numeric | Number of days the account is in arrears as of the pool cut-off date. |
| Payment Method | Dynamic | List | Usual method of payment (can be based upon last payment received). |
| Date Of Charge Off | Dynamic | YYYY-MM | The date of default. |
| Original Charge Off Amount | Dynamic | 9(11).99 | The total balance on the account at the date the account was charged-off. |
| Cumulative Recoveries | Dynamic | 9(11).99 | Cumulative recoveries — only relevant for accounts that have charged-off. For accounts that have not been charged-off, enter 0. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Deal-Specific Information

Pool Cut-Off Date

Dynamic

YYYY-MM-DD

Pool or portfolio cut-off date. This is the date at which the underlying asset data within the report is referenced.

Pool Identifier

Static

Text/Numeric

Pool or portfolio identifier, e.g. Master Issuer plc, or SPV 2012-1 plc.

Servicer Name

Static

Text/Numeric

Name of the entity servicing the account.

Backup Servicer Name

Dynamic

Text/Numeric

Name of the backup servicer.

Seller

Static

Text/Numeric

Name of Seller.

Type of Transaction

Static

List

Standalone, Master Trust — Capitalist, Master Trust — Socialist or Other.

Loan Level Information

Account Identifier

Static

Text/Numeric

Unique identifier for a particular account in the pool. It must be encrypted to ensure data protection.

Originator

Static

Text/Numeric

Lender that originated the account. If unknown, please enter Seller.

Borrower Identifier

Static

Text/Numeric

Unique identifier for a particular borrower; must be encrypted to ensure data protection. This may be the same as the Account Identifier.

Currency Denomination Of Receivable

Static

List

The currency in which the receivable is denominated.

Pool Addition Date

Static

YYYY-MM

Date that the account entered the pool.

Borrower’s Employment Status

Static

List

Employment status of the primary applicant.

Primary Income Currency

Static

List

Primary income currency denomination.

Income Verification For Primary Income

Static

List

Income verification for primary income.

Geographic Region

Dynamic

List

The region where the borrower is located.

Employee

Static

Y/N

Is the borrower an employee of the originator or seller?

Account Opening Date

Static

YYYY-MM

The date that the account was opened.

Total Current Balance

Dynamic

9(11).99

What is the total current amount owed by the borrower (including all fees and interest) on the account?

Total Credit Limit

Dynamic

9(11).99

What is the credit limit of the borrower on the account?

Scheduled Payment Frequency

Dynamic

List

What is the minimum frequency with which the borrower are obliged to make payments if they have a balance outstanding.

Next Minimum Contractual Payment

Dynamic

9(11).99

The next minimum scheduled payment due from the borrower.

Current Blended Yield

Dynamic

9(3).99

Total weighted average yield including all fees applicable at last billing date (i.e. this is billed, not cash yield) (%).

Current Interest Rate Basis

Dynamic

List

Current interest rate basis.

Account Status

Dynamic

List

Current status of account.

Arrears Balance

Dynamic

9(11).99

Current balance of arrears, defined as the sum of minimum contractual payments due but unpaid by the borrower.

Arrears Balance Capitalised

Dynamic

9(11).99

Sum of arrears capitalised to date.

Date of Most Recent Arrears Capitalisation

Dynamic

YYYY-MM

Most recent date that arrears were capitalised on this card.

Number Of Days In Arrears

Dynamic

Numeric

Number of days the account is in arrears as of the pool cut-off date.

Payment Method

Dynamic

List

Usual method of payment (can be based upon last payment received).

Date Of Charge Off

Dynamic

YYYY-MM

The date of default.

Original Charge Off Amount

Dynamic

9(11).99

The total balance on the account at the date the account was charged-off.

Cumulative Recoveries

Dynamic

9(11).99

Cumulative recoveries — only relevant for accounts that have charged-off. For accounts that have not been charged-off, enter 0.

POOL AND BOND INFO:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Collateral Level Data (To be completed for all structures) |
| Gross Charge Offs In The Period | Dynamic | 9(11).99 | Face value of gross principal charge-offs (i.e. before recoveries) for the period. Charge-off is as per transaction definition, or alternatively per lender’s usual practice. |
| Recoveries In The period | Dynamic | 9(11).99 | Gross recoveries received during the period. |
| Delinquencies 30-59 Days % | Dynamic | 9(3).99 | Based upon total balance of receivables, not number of accounts (%). |
| Delinquencies 60-89 Days % | Dynamic | 9(3).99 | Based upon total balance of receivables, not number of accounts (%). |
| Delinquencies 90-119 Days % | Dynamic | 9(3).99 | Based upon total balance of receivables, not number of accounts (%). |
| Delinquencies 120-149 Days % | Dynamic | 9(3).99 | Based upon total balance of receivables, not number of accounts (%). |
| Delinquencies 150-179 Days % | Dynamic | 9(3).99 | Based upon total balance of receivables, not number of accounts (%). |
| Delinquencies 180+ Days % | Dynamic | 9(3).99 | Based upon total balance of receivables, not number of accounts (%). |
| Dilutions | Dynamic | 9(11).99 | Total reductions in principal receivables during the period, i.e. inclusive of fraud claims. |
| Revenue Collections In The Period | Dynamic | 9(11).99 | Collections treated as revenue in the period. |
| Principal Collections In The Period | Dynamic | 9(11).99 | Collections treated as principal in the period. |
| Any Trigger Occurrence | Dynamic | Y/N | Has any trigger event occurred, that is still outstanding? e.g. any pay-out event, any trigger based upon the originator’s rating, status or value of delinquencies, yield, dilutions, defaults etc. |
| SPV Size - Value | Dynamic | 9(11).99 | Face value of all receivables (principal and charges) in which the trust or SPV has a beneficial interest at the cut-off date. |
| SPV Size - Number Of Accounts | Dynamic | 9(11).99 | Number of accounts in which the trust or SPV has a beneficial interest at the cut-off date. |
| SPV Size - Value - Principal Only | Dynamic | 9(11).99 | Face value of all receivables (principal only) in which the trust or SPV had a beneficial interest at the cut-off date. |
| Note Balance | Dynamic | 9(11).99 | Face value of all asset-backed notes, collateralised by the receivables in the trust or SPV. |
| Transferor Interest % | Dynamic | 9(3).99 | The actual transferor’s interest in the trust, expressed as a percentage. |
| Excess Spread Amount | Dynamic | 9(11).99 | The amount remaining after note interest and topping up of any reserve account. |
| Report Date | Dynamic | YYYY-MM-DD | The date on which the transaction report was issued. |
| Series Level Information (For master trusts only) |
| Series Name | Static | Text/Numeric | Name of series, if part of a master trust. |
| Investor Interest For This Series At End Of Period % | Dynamic | 9(3).9(5) | The investor’s interest of this series in the trust, expressed as a percentage. |
| Revenue Allocated To This Series | Dynamic | 9(11).99 | Revenue amounts allocated to this series from the trust. |
| Excess Spread Amount | Dynamic | 9(11).99 | The amount remaining after the period’s collections have been fully applied to cover the issuer’s obligations per the revenue waterfall in the transaction documentation. |
| Transaction Report Contact Information |
| Point Contact | Static | Text/Numeric | Name of the department and the point person(s) of the information sources. |
| Contact Information | Static | Text/Numeric | Telephone number and email address. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Collateral Level Data (To be completed for all structures)

Gross Charge Offs In The Period

Dynamic

9(11).99

Face value of gross principal charge-offs (i.e. before recoveries) for the period. Charge-off is as per transaction definition, or alternatively per lender’s usual practice.

Recoveries In The period

Dynamic

9(11).99

Gross recoveries received during the period.

Delinquencies 30-59 Days %

Dynamic

9(3).99

Based upon total balance of receivables, not number of accounts (%).

Delinquencies 60-89 Days %

Dynamic

9(3).99

Based upon total balance of receivables, not number of accounts (%).

Delinquencies 90-119 Days %

Dynamic

9(3).99

Based upon total balance of receivables, not number of accounts (%).

Delinquencies 120-149 Days %

Dynamic

9(3).99

Based upon total balance of receivables, not number of accounts (%).

Delinquencies 150-179 Days %

Dynamic

9(3).99

Based upon total balance of receivables, not number of accounts (%).

Delinquencies 180+ Days %

Dynamic

9(3).99

Based upon total balance of receivables, not number of accounts (%).

Dilutions

Dynamic

9(11).99

Total reductions in principal receivables during the period, i.e. inclusive of fraud claims.

Revenue Collections In The Period

Dynamic

9(11).99

Collections treated as revenue in the period.

Principal Collections In The Period

Dynamic

9(11).99

Collections treated as principal in the period.

Any Trigger Occurrence

Dynamic

Y/N

Has any trigger event occurred, that is still outstanding? e.g. any pay-out event, any trigger based upon the originator’s rating, status or value of delinquencies, yield, dilutions, defaults etc.

SPV Size - Value

Dynamic

9(11).99

Face value of all receivables (principal and charges) in which the trust or SPV has a beneficial interest at the cut-off date.

SPV Size - Number Of Accounts

Dynamic

9(11).99

Number of accounts in which the trust or SPV has a beneficial interest at the cut-off date.

SPV Size - Value - Principal Only

Dynamic

9(11).99

Face value of all receivables (principal only) in which the trust or SPV had a beneficial interest at the cut-off date.

Note Balance

Dynamic

9(11).99

Face value of all asset-backed notes, collateralised by the receivables in the trust or SPV.

Transferor Interest %

Dynamic

9(3).99

The actual transferor’s interest in the trust, expressed as a percentage.

Excess Spread Amount

Dynamic

9(11).99

The amount remaining after note interest and topping up of any reserve account.

Report Date

Dynamic

YYYY-MM-DD

The date on which the transaction report was issued.

Series Level Information (For master trusts only)

Series Name

Static

Text/Numeric

Name of series, if part of a master trust.

Investor Interest For This Series At End Of Period %

Dynamic

9(3).9(5)

The investor’s interest of this series in the trust, expressed as a percentage.

Revenue Allocated To This Series

Dynamic

9(11).99

Revenue amounts allocated to this series from the trust.

Excess Spread Amount

Dynamic

9(11).99

The amount remaining after the period’s collections have been fully applied to cover the issuer’s obligations per the revenue waterfall in the transaction documentation.

Transaction Report Contact Information

Point Contact

Static

Text/Numeric

Name of the department and the point person(s) of the information sources.

Contact Information

Static

Text/Numeric

Telephone number and email address.

BOND INFO BY TRANCHE:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Tranche Level Information (For this series only) |
| Bond Class Name | Static | Text/Numeric | The designation (typically a letter and/or number) given to a tranche of bonds which exhibit the same rights, priorities and characteristics as defined in the prospectus, e.g. 2012 Class A1a etc. |
| International Securities Identification Number | Static | Text/Numeric | The international security identification code or codes, or if no ISIN then any other unique securities code such as a CUSIP, assigned to this tranche by an exchange or other entity. If more than one code, enter comma-delimited. |
| Interest Payment Date | Dynamic | YYYY-MM-DD | The first occurring date, after the pool cut-off date being reported, upon which interest payments are scheduled to be distributed to bondholders of this tranche. |
| Principal Payment Date | Dynamic | YYYY-MM-DD | The first occurring date, after the pool cut-off date being reported, upon which principal payments are scheduled to be distributed to bondholders of this tranche. |
| Bond Currency | Static | List | The denomination of this tranche. |
| Reference Rate | Static | List | The base reference interest index as defined in the prospectus or final terms applicable to this specific tranche. |
| Legal Maturity | Static | YYYY-MM-DD | The date by which this specific tranche must be fully repaid in order not to be in default. |
| Bond Issue Date | Static | YYYY-MM-DD | Date this bond was issued. |
| Interest Payment Frequency | Static | List | The frequency with which interest is due to be paid on this specific tranche. |
| Series name | Static | Text/Numeric | Name of series, if part of a master trust. If standalone, use Pool Identifier. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Tranche Level Information (For this series only)

Bond Class Name

Static

Text/Numeric

The designation (typically a letter and/or number) given to a tranche of bonds which exhibit the same rights, priorities and characteristics as defined in the prospectus, e.g. 2012 Class A1a etc.

International Securities Identification Number

Static

Text/Numeric

The international security identification code or codes, or if no ISIN then any other unique securities code such as a CUSIP, assigned to this tranche by an exchange or other entity. If more than one code, enter comma-delimited.

Interest Payment Date

Dynamic

YYYY-MM-DD

The first occurring date, after the pool cut-off date being reported, upon which interest payments are scheduled to be distributed to bondholders of this tranche.

Principal Payment Date

Dynamic

YYYY-MM-DD

The first occurring date, after the pool cut-off date being reported, upon which principal payments are scheduled to be distributed to bondholders of this tranche.

Bond Currency

Static

List

The denomination of this tranche.

Reference Rate

Static

List

The base reference interest index as defined in the prospectus or final terms applicable to this specific tranche.

Legal Maturity

Static

YYYY-MM-DD

The date by which this specific tranche must be fully repaid in order not to be in default.

Bond Issue Date

Static

YYYY-MM-DD

Date this bond was issued.

Interest Payment Frequency

Static

List

The frequency with which interest is due to be paid on this specific tranche.

Series name

Static

Text/Numeric

Name of series, if part of a master trust. If standalone, use Pool Identifier.

---

ANNEX VII

Loan Level Data — Reporting template for structured finance instruments backed by leases to individuals or businesses

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Deal-Specific Information |
| Pool Cut-off Date | Dynamic | YYYY-MM-DD | Pool or Portfolio cut-off date. This is the date at which the underlying asset data within the report is referenced. |
| Pool Identifier | Static | Text/Numeric | Pool or Portfolio identifier/name of transaction. |
| Servicer Name | Dynamic | Text/Numeric | Servicer name. |
| Backup Servicer Name | Dynamic | Text | Name of the Backup Servicer. |
| Lease-Level Information |
| Lease Identifier | Static | Text/Numeric | Unique identifier (ID) for each Lease which should be encrypted to ensure anonymity. The Lease ID should not change through the life of the transaction. |
| Originator | Static | Text | Lender that advanced the original Lease. Where original originator is not known, for example in case of mergers, name of Seller to be provided. |
| Lessee Identifier | Static | Text/Numeric | Unique identifier (ID) per Lessee which should be encrypted (not showing the real name) to ensure anonymity — to enable Lessees with multiple Leases in the pool to be identified. |
| Group Company Identifier | Dynamic | Text/Numeric | Unique group company identifier. |
| Lease Currency Denomination | Static | List | Lease currency denomination. |
| Country | Static | List | Country of permanent establishment of the lessee. |
| Geographic Region | Static | List | The region where the obligor is located as at underwriting. |
| Lessee Legal Form/Business Type | Static | List | Legal form of lessee. |
| Borrower Basel III Segment | Static | List | Corporate (1). |
| Originator Affiliate? | Static | Y/N | Is the borrower an affiliate of the originator? |
| Syndicated? | Static | Y/N | Is the lease syndicated? |
| Bank Internal Rating | Dynamic | 99(3).99 | Bank internal 1 Year Probability of Default. |
| Last Internal Obligor Rating Review | Dynamic | YYYY-MM | Date of last internal review of obligor as referenced in ‘Bank Internal Rating’. |
| Bank Internal Loss Given Default (LGD) Estimate | Dynamic | 9(3).99 | Loss Given Default in normal economic conditions. Do not include the % symbol. |
| NACE Industry Code | Static | Text/Numeric | Borrower industry NACE Code. |
| Subsidised | Dynamic | Y/N | Is the lease subsidised (to the best of your knowledge)? |
| Date Removed from the Pool | Dynamic | YYYY-MM | Date that the lease was removed from the pool, e.g. on repurchase, expiry of lease term, prepayment or end of recovery process. |
| Lease Characteristics |
| Lease Origination Date | Static | YYYY-MM | Date of lease origination. |
| Date of Lease Maturity | Dynamic | YYYY-MM | The expected expiry date of the lease maturity. |
| Pool Addition Date | Static | YYYY-MM | Date that the lease was transferred to the SPV. For all leases in the pool as at the date of the pool cut-off. |
| Lease Term | Static | 99(4).99 | Original contractual term (number of months). |
| Original Principal Balance | Static | 9(11).99 | Original Principal (or discounted) lease balance (inclusive of capitalised fees) at origination. |
| Current Principal Outstanding Balance | Dynamic | 9(11).99 | Principal (or discounted) lease balance outstanding as of the pool cut-off date, including any amounts that have been added to the lease balance and are part of the principal in the transaction. |
| Securitised Residual Value | Static | 9(11).99 | Residual value amount which has been securitised only. |
| Repayment Method | Static | List | Type of principal repayment. |
| Principal Payment Frequency | Static | List | Frequency of principal payments due, i.e. number of months between payments. |
| Interest Payment Frequency | Static | List | Frequency of interest payments due, i.e. number of months between payments. |
| Payment Due | Dynamic | 9(11).99 | The next periodic contractual payment due (the payment due if there are no other payment arrangements in force). |
| Option to Buy Price | Static | 9(11).99 | The amount the lessee has to pay at the end of the lease in order to take ownership of the asset, other than the payment referred to in field ‘Securitised Residual Value’. |
| Down Payment Amount | Static | 9(11).99 | Amount of deposit/down payment on origination of lease (this should include the value of traded-in equipment etc.). |
| Amortisation Type | Dynamic | List | Amortisation type. |
| Payment Method | Dynamic | List | Usual method of payment (can be based upon last payment received). |
| Product Type | Static | List | The classification of the lease, per lessor’s definitions. |
| Updated Residual Value of Asset | Dynamic | 9(11).99 | Most recent forecast residual value of the asset at the end of the lease term. Response may be rounded. |
| Date of Updated Residual Valuation of Asset | Dynamic | YYYY-MM | The date that the most recent updated estimation of the residual value of the asset was calculated. |
| Interest Rate |
| Interest Rate Reset Interval | Static | 9(2).99 | Number of months between each interest rate reset date. |
| Current Interest Rate or Discount Rate | Dynamic | 9(4).9(5) | Total current interest rate (%) or discount rate applicable to the lease. |
| Current Interest Rate Basis | Dynamic | List | Current interest rate basis. |
| Current Interest Rate Margin | Dynamic | 9(4).9(5) | Current interest rate margin of the lease. |
| Discount Rate | Static | 9(4).9(5) | Discount rate applied to the receivable when it was sold to the SPV. |
| Interest Cap Rate | Dynamic | 9(4).9(8) | If there is a cap to the interest rate that can be charged on this account, enter this cap here. |
| Interest Floor Rate | Dynamic | 9(4).9(8) | If there is a floor to the interest rate that can be charged on this account, enter this floor here. |
| Performance Information |
| Arrears Balance | Dynamic | 9(11).99 | Current balance of arrears. Arrears defined as: Total payments due to date LESS Total payments received to date LESS any amounts capitalised. This should not include any fees applied to the account. |
| Number of Months in Arrears | Dynamic | 9(5).99 | Number of months this Lease is in arrears (at pool cut-off date) according to the definition of the issuer. |
| Default or Foreclosure on the Lease | Dynamic | Y/N | Whether there has been a default or foreclosure on the lease per the transaction definition, or alternatively, per the lessor’s usual definition. |
| Default or Foreclosure on the Lease per Basel III definition | Dynamic | Y/N | Whether there has been a default or foreclosure on the Lease per Basel III definition. |
| Reason for Default (Basel III definition) | Dynamic | List | Using Basel III definition, reason for default. |
| Default Date | Dynamic | YYYY-MM | Date the Lease defaulted per the transaction default definition, or alternatively, per the lessor’s usual definition. |
| Default Amount | Dynamic | 9(11).99 | Total default amount (per the transaction definition, or alternatively, per the lessor’s usual definition) before the application of sale proceeds and recoveries. |
| Cumulative Recoveries | Dynamic | 9(11).99 | Cumulative recoveries on this account, net of costs. |
| Allocated Losses | Dynamic | 9(11).99 | The allocated losses to date. |
| Redemption Date | Dynamic | YYYY-MM | Date on which account redeemed or the date that the recovery process was completed for defaulted leases. |
| Date Loss Allocated | Dynamic | YYYY-MM | The date when the loss was allocated. |
| Account Status | Dynamic | List | Current status of account. |
| Arrears 1 Month Ago | Dynamic | 9(11).99 | Arrears balance (defined as per ‘arrears balance’) for the previous month. |
| Arrears 2 Months Ago | Dynamic | 9(11).99 | Arrears balance (defined as per ‘arrears balance’) two months ago. |
| Litigation | Dynamic | Y/N | Flag to indicate litigation proceedings underway (if account has recovered and is no longer being actively litigated this should be re-set to N). |
| Sale Price | Dynamic | 9(11).99 | Price achieved on sale of asset in case of foreclosure, in same currency denomination as lease. |
| Loss on Sale | Dynamic | 9(11).99 | Total loss net of fees, accrued interest etc. after application of sale proceeds (excluding prepayment charge if subordinate to principal recoveries). |
| Residual Value Losses | Dynamic | 9(11).99 | Residual value loss arising on turn-in of asset. |
| Collateral |
| Country of Asset | Static | List | The country where the asset is located. |
| Asset Manufacturer | Static | Text | Name of the manufacturer. |
| Asset Name/Model | Static | Text | Name of the asset/model. |
| New or Used Asset | Static | List | Condition of asset at point of lease origination. |
| Original Residual Value of Asset | Static | 9(11).99 | The estimated residual value of the asset at the date of lease origination. |
| Asset Type | Static | List | Asset type. |
| Original Valuation amount | Static | 9(11).99 | Valuation of asset at lease origination. |
| Original Valuation type | Static | List | Valuation type at lease origination. |
| Original Valuation date | Static | YYYY-MM | Date of asset valuation at origination. |
| Updated Valuation amount | Dynamic | 9(11).99 | Latest asset valuation. |
| Updated Valuation type | Dynamic | List | Valuation type at most recent valuation date. |
| Updated Valuation date | Dynamic | YYYY-MM | Date of latest asset valuation. If no revaluation has occurred since origination, enter original valuation date. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Deal-Specific Information

Pool Cut-off Date

Dynamic

YYYY-MM-DD

Pool or Portfolio cut-off date. This is the date at which the underlying asset data within the report is referenced.

Pool Identifier

Static

Text/Numeric

Pool or Portfolio identifier/name of transaction.

Servicer Name

Dynamic

Text/Numeric

Servicer name.

Backup Servicer Name

Dynamic

Text

Name of the Backup Servicer.

Lease-Level Information

Lease Identifier

Static

Text/Numeric

Unique identifier (ID) for each Lease which should be encrypted to ensure anonymity. The Lease ID should not change through the life of the transaction.

Originator

Static

Text

Lender that advanced the original Lease. Where original originator is not known, for example in case of mergers, name of Seller to be provided.

Lessee Identifier

Static

Text/Numeric

Unique identifier (ID) per Lessee which should be encrypted (not showing the real name) to ensure anonymity — to enable Lessees with multiple Leases in the pool to be identified.

Group Company Identifier

Dynamic

Text/Numeric

Unique group company identifier.

Lease Currency Denomination

Static

List

Lease currency denomination.

Country

Static

List

Country of permanent establishment of the lessee.

Geographic Region

Static

List

The region where the obligor is located as at underwriting.

Lessee Legal Form/Business Type

Static

List

Legal form of lessee.

Borrower Basel III Segment

Static

List

Corporate (1).

Originator Affiliate?

Static

Y/N

Is the borrower an affiliate of the originator?

Syndicated?

Static

Y/N

Is the lease syndicated?

Bank Internal Rating

Dynamic

99(3).99

Bank internal 1 Year Probability of Default.

Last Internal Obligor Rating Review

Dynamic

YYYY-MM

Date of last internal review of obligor as referenced in ‘Bank Internal Rating’.

Bank Internal Loss Given Default (LGD) Estimate

Dynamic

9(3).99

Loss Given Default in normal economic conditions. Do not include the % symbol.

NACE Industry Code

Static

Text/Numeric

Borrower industry NACE Code.

Subsidised

Dynamic

Y/N

Is the lease subsidised (to the best of your knowledge)?

Date Removed from the Pool

Dynamic

YYYY-MM

Date that the lease was removed from the pool, e.g. on repurchase, expiry of lease term, prepayment or end of recovery process.

Lease Characteristics

Lease Origination Date

Static

YYYY-MM

Date of lease origination.

Date of Lease Maturity

Dynamic

YYYY-MM

The expected expiry date of the lease maturity.

Pool Addition Date

Static

YYYY-MM

Date that the lease was transferred to the SPV. For all leases in the pool as at the date of the pool cut-off.

Lease Term

Static

99(4).99

Original contractual term (number of months).

Original Principal Balance

Static

9(11).99

Original Principal (or discounted) lease balance (inclusive of capitalised fees) at origination.

Current Principal Outstanding Balance

Dynamic

9(11).99

Principal (or discounted) lease balance outstanding as of the pool cut-off date, including any amounts that have been added to the lease balance and are part of the principal in the transaction.

Securitised Residual Value

Static

9(11).99

Residual value amount which has been securitised only.

Repayment Method

Static

List

Type of principal repayment.

Principal Payment Frequency

Static

List

Frequency of principal payments due, i.e. number of months between payments.

Interest Payment Frequency

Static

List

Frequency of interest payments due, i.e. number of months between payments.

Payment Due

Dynamic

9(11).99

The next periodic contractual payment due (the payment due if there are no other payment arrangements in force).

Option to Buy Price

Static

9(11).99

The amount the lessee has to pay at the end of the lease in order to take ownership of the asset, other than the payment referred to in field ‘Securitised Residual Value’.

Down Payment Amount

Static

9(11).99

Amount of deposit/down payment on origination of lease (this should include the value of traded-in equipment etc.).

Amortisation Type

Dynamic

List

Amortisation type.

Payment Method

Dynamic

List

Usual method of payment (can be based upon last payment received).

Product Type

Static

List

The classification of the lease, per lessor’s definitions.

Updated Residual Value of Asset

Dynamic

9(11).99

Most recent forecast residual value of the asset at the end of the lease term. Response may be rounded.

Date of Updated Residual Valuation of Asset

Dynamic

YYYY-MM

The date that the most recent updated estimation of the residual value of the asset was calculated.

Interest Rate

Interest Rate Reset Interval

Static

9(2).99

Number of months between each interest rate reset date.

Current Interest Rate or Discount Rate

Dynamic

9(4).9(5)

Total current interest rate (%) or discount rate applicable to the lease.

Current Interest Rate Basis

Dynamic

List

Current interest rate basis.

Current Interest Rate Margin

Dynamic

9(4).9(5)

Current interest rate margin of the lease.

Discount Rate

Static

9(4).9(5)

Discount rate applied to the receivable when it was sold to the SPV.

Interest Cap Rate

Dynamic

9(4).9(8)

If there is a cap to the interest rate that can be charged on this account, enter this cap here.

Interest Floor Rate

Dynamic

9(4).9(8)

If there is a floor to the interest rate that can be charged on this account, enter this floor here.

Performance Information

Arrears Balance

Dynamic

9(11).99

Current balance of arrears. Arrears defined as: Total payments due to date LESS Total payments received to date LESS any amounts capitalised. This should not include any fees applied to the account.

Number of Months in Arrears

Dynamic

9(5).99

Number of months this Lease is in arrears (at pool cut-off date) according to the definition of the issuer.

Default or Foreclosure on the Lease

Dynamic

Y/N

Whether there has been a default or foreclosure on the lease per the transaction definition, or alternatively, per the lessor’s usual definition.

Default or Foreclosure on the Lease per Basel III definition

Dynamic

Y/N

Whether there has been a default or foreclosure on the Lease per Basel III definition.

Reason for Default (Basel III definition)

Dynamic

List

Using Basel III definition, reason for default.

Default Date

Dynamic

YYYY-MM

Date the Lease defaulted per the transaction default definition, or alternatively, per the lessor’s usual definition.

Default Amount

Dynamic

9(11).99

Total default amount (per the transaction definition, or alternatively, per the lessor’s usual definition) before the application of sale proceeds and recoveries.

Cumulative Recoveries

Dynamic

9(11).99

Cumulative recoveries on this account, net of costs.

Allocated Losses

Dynamic

9(11).99

The allocated losses to date.

Redemption Date

Dynamic

YYYY-MM

Date on which account redeemed or the date that the recovery process was completed for defaulted leases.

Date Loss Allocated

Dynamic

YYYY-MM

The date when the loss was allocated.

Account Status

Dynamic

List

Current status of account.

Arrears 1 Month Ago

Dynamic

9(11).99

Arrears balance (defined as per ‘arrears balance’) for the previous month.

Arrears 2 Months Ago

Dynamic

9(11).99

Arrears balance (defined as per ‘arrears balance’) two months ago.

Litigation

Dynamic

Y/N

Flag to indicate litigation proceedings underway (if account has recovered and is no longer being actively litigated this should be re-set to N).

Sale Price

Dynamic

9(11).99

Price achieved on sale of asset in case of foreclosure, in same currency denomination as lease.

Loss on Sale

Dynamic

9(11).99

Total loss net of fees, accrued interest etc. after application of sale proceeds (excluding prepayment charge if subordinate to principal recoveries).

Residual Value Losses

Dynamic

9(11).99

Residual value loss arising on turn-in of asset.

Collateral

Country of Asset

Static

List

The country where the asset is located.

Asset Manufacturer

Static

Text

Name of the manufacturer.

Asset Name/Model

Static

Text

Name of the asset/model.

New or Used Asset

Static

List

Condition of asset at point of lease origination.

Original Residual Value of Asset

Static

9(11).99

The estimated residual value of the asset at the date of lease origination.

Asset Type

Static

List

Asset type.

Original Valuation amount

Static

9(11).99

Valuation of asset at lease origination.

Original Valuation type

Static

List

Valuation type at lease origination.

Original Valuation date

Static

YYYY-MM

Date of asset valuation at origination.

Updated Valuation amount

Dynamic

9(11).99

Latest asset valuation.

Updated Valuation type

Dynamic

List

Valuation type at most recent valuation date.

Updated Valuation date

Dynamic

YYYY-MM

Date of latest asset valuation. If no revaluation has occurred since origination, enter original valuation date.

BOND INFO:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Security or Bond Level Information |
| Report Date | Dynamic | YYYY-MM-DD | The date on which the transaction report was issued, i.e. the submission date of the completed loan-level data template to the data repository. |
| Issuer | Static | Text | Name of issuer and issue series, if applicable. |
| All Reserve Accounts at Target Balance | Dynamic | Y/N | Are all reserve accounts (cash reserve, commingling reserve, set-off reserve etc.) at their required levels? |
| Drawings under Liquidity Facility | Dynamic | Y/N | Has the liquidity facility been used to cover shortfalls in the period ending on the last interest payment date? |
| Trigger Measurements/Ratios | Dynamic | Y/N | Has any trigger event occurred? |
| Annualised Constant Prepayment Rate | Dynamic | 9(3).99 | The annualised Constant Prepayment Rate (CPR) of the underlying receivables based upon the most recent periodic CPR. Periodic CPR is equal to the total unscheduled principal received in the most recent period divided by the start of period principal balance. |
| Total Receivables Sold to SPV | Dynamic | 9(11).99 | Sum of principal amount of receivables sold to SPV (i.e. at closing and during the replenishment period if applicable) to date. |
| Cumulative Gross Defaults - Pool | Dynamic | 9(11).99 | Sum of all gross defaults since closing, in currency amount. |
| Cumulative Recoveries - Pool | Dynamic | 9(11).99 | Sum of all recoveries since closing, in currency amount. |
| Revolving Period End Date | Dynamic | YYYY-MM | The date that the revolving period is expected to end, or actually ended. |
| Transaction Report Contact Information |
| Point Contact | Static | Text/Numeric | Name of the department and the point person(s) of the information sources. |
| Contact Information | Static | Text/Numeric | Telephone number and e-mail address. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Security or Bond Level Information

Report Date

Dynamic

YYYY-MM-DD

The date on which the transaction report was issued, i.e. the submission date of the completed loan-level data template to the data repository.

Issuer

Static

Text

Name of issuer and issue series, if applicable.

All Reserve Accounts at Target Balance

Dynamic

Y/N

Are all reserve accounts (cash reserve, commingling reserve, set-off reserve etc.) at their required levels?

Drawings under Liquidity Facility

Dynamic

Y/N

Has the liquidity facility been used to cover shortfalls in the period ending on the last interest payment date?

Trigger Measurements/Ratios

Dynamic

Y/N

Has any trigger event occurred?

Annualised Constant Prepayment Rate

Dynamic

9(3).99

The annualised Constant Prepayment Rate (CPR) of the underlying receivables based upon the most recent periodic CPR. Periodic CPR is equal to the total unscheduled principal received in the most recent period divided by the start of period principal balance.

Total Receivables Sold to SPV

Dynamic

9(11).99

Sum of principal amount of receivables sold to SPV (i.e. at closing and during the replenishment period if applicable) to date.

Cumulative Gross Defaults - Pool

Dynamic

9(11).99

Sum of all gross defaults since closing, in currency amount.

Cumulative Recoveries - Pool

Dynamic

9(11).99

Sum of all recoveries since closing, in currency amount.

Revolving Period End Date

Dynamic

YYYY-MM

The date that the revolving period is expected to end, or actually ended.

Transaction Report Contact Information

Point Contact

Static

Text/Numeric

Name of the department and the point person(s) of the information sources.

Contact Information

Static

Text/Numeric

Telephone number and e-mail address.

BOND INFO BY TRANCHE:

| Field Name | Static/Dynamic | Data Type | Field Definition and Criteria |
| --- | --- | --- | --- |
| Tranche Level Information |
| Bond Class Name | Static | Text/Numeric | The designation (typically a letter and/or number) given to this tranche of bonds which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1 Class A1a etc. |
| International Securities Identification Number | Static | Text/Numeric | The international security identification code or codes, or if no ISIN, then any other unique securities code such as a CUSIP, assigned to this tranche by an exchange or other entity. |
| Interest Payment Date | Dynamic | YYYY-MM-DD | The first occurring date, after the pool cut-off date being reported, upon which interest payments are scheduled to be distributed to bondholders of this tranche. |
| Principal Payment Date | Dynamic | YYYY-MM-DD | The first occurring date, after the pool cut-off date being reported, upon which principal payments are scheduled to be distributed to bondholders of this tranche. |
| Bond Currency | Static | List | The denomination of this tranche. |
| Reference Rate | Static | List | The base reference interest index as defined in the offering document applicable to this specific tranche of Bond. |
| Legal Maturity | Static | YYYY-MM-DD | The date before which this specific tranche must be repaid in order not to be in default. |
| Bond Issue Date | Static | YYYY-MM-DD | Date the bonds were issued. |
| Interest Payment Frequency | Static | List | The frequency with which interest is due to be paid on this tranche. |

Field Name

Static/Dynamic

Data Type

Field Definition and Criteria

Tranche Level Information

Bond Class Name

Static

Text/Numeric

The designation (typically a letter and/or number) given to this tranche of bonds which exhibit the same rights, priorities and characteristics as defined in the prospectus, i.e. Series 1 Class A1a etc.

International Securities Identification Number

Static

Text/Numeric

The international security identification code or codes, or if no ISIN, then any other unique securities code such as a CUSIP, assigned to this tranche by an exchange or other entity.

Interest Payment Date

Dynamic

YYYY-MM-DD

The first occurring date, after the pool cut-off date being reported, upon which interest payments are scheduled to be distributed to bondholders of this tranche.

Principal Payment Date

Dynamic

YYYY-MM-DD

The first occurring date, after the pool cut-off date being reported, upon which principal payments are scheduled to be distributed to bondholders of this tranche.

Bond Currency

Static

List

The denomination of this tranche.

Reference Rate

Static

List

The base reference interest index as defined in the offering document applicable to this specific tranche of Bond.

Legal Maturity

Static

YYYY-MM-DD

The date before which this specific tranche must be repaid in order not to be in default.

Bond Issue Date

Static

YYYY-MM-DD

Date the bonds were issued.

Interest Payment Frequency

Static

List

The frequency with which interest is due to be paid on this tranche.

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ANNEX VIII

Investor reports

The investor reports shall contain information on:

| (a) | asset performance; |
| --- | --- |

(a)

asset performance;

| (b) | a detailed cash flow allocation; |
| --- | --- |

(b)

a detailed cash flow allocation;

| (c) | a list of all triggers of the transaction and their status; |
| --- | --- |

(c)

a list of all triggers of the transaction and their status;

| (d) | a list of all counterparties involved in a transaction, their role and their credit ratings; |
| --- | --- |

(d)

a list of all counterparties involved in a transaction, their role and their credit ratings;

| (e) | details of cash injected into the transaction by the originator/sponsor or any other support provided to the transaction including any drawings under or utilisation of any liquidity or credit support and support provided by a third party; |
| --- | --- |

(e)

details of cash injected into the transaction by the originator/sponsor or any other support provided to the transaction including any drawings under or utilisation of any liquidity or credit support and support provided by a third party;

| (f) | amounts standing to the credit of guaranteed investment contract and other bank accounts; |
| --- | --- |

(f)

amounts standing to the credit of guaranteed investment contract and other bank accounts;

| (g) | details of any swaps (e.g. rates, payments and notionals) and other hedging arrangements to the transaction, including any related collateral postings; |
| --- | --- |

(g)

details of any swaps (e.g. rates, payments and notionals) and other hedging arrangements to the transaction, including any related collateral postings;

| (h) | definitions of key terms (such as delinquencies, defaults and pre-payments); |
| --- | --- |

(h)

definitions of key terms (such as delinquencies, defaults and pre-payments);

| (i) | LEI, ISIN and other security or entity identification codes of the issuer and the structured finance instrument; |
| --- | --- |

(i)

LEI, ISIN and other security or entity identification codes of the issuer and the structured finance instrument;

| (j) | contact details of the entity producing the investor report. |
| --- | --- |

(j)

contact details of the entity producing the investor report.

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