2.

Annex VIII is amended as follows: (a) the title and the introductory paragraph are replaced by the following: ‘ANNEX VIII LOAN-LEVEL DATA REPORTING REQUIREMENTS FOR ASSET-BACKED SECURITIES AND THE REQUIREMENTS FOR LOAN-LEVEL DATA REPOSITORIES This Annex applies to the provision of comprehensive and standardised loan-level data on the pool of cash-flow generating assets backing asset-backed securities (ABSs), as specified in Article 78, and sets out the requirements for loan-level data repositories. (b) Section I is amended as follows: (i) paragraphs 1 and 2 are replaced by the following: ‘1. Loan-level data must be submitted by the relevant parties to a loan-level data repository in accordance with this Annex. The loan-level data repository publishes such data electronically. 2. Loan-level data may be submitted for each individual transaction using: (a) for transactions reported to an ESMA securitisation repository, the relevant templates specified in the implementing technical standards adopted by the Commission under Article 7(4) of Regulation (EU) 2017/2402; or (b) for transactions reported to a Eurosystem designated repository, the up-to-date relevant ECB loan-level data reporting template, published on the ECB's website. In each case, the relevant template to be submitted depends on the type of asset backing the ABS, as defined in Article 73(1).’; (ii) the following paragraphs 2a and 2b are inserted: ‘2a. Submission of loan-level data in accordance with paragraph 2(a) will commence at the beginning of the calendar month immediately following the date which is three months from the ESMA reporting activation date. Submission of loan-level data in accordance with paragraph 2(b) is permitted until the end of the calendar month in which the date three years and three months from the ESMA reporting activation date falls. 2b. Notwithstanding the second subparagraph of paragraph 2a, loan-level data for an individual transaction must be submitted in accordance with paragraph 2(a) where both: (a) the relevant parties to a transaction are obliged pursuant to Article 7(1)(a) and Article 7(2) of Regulation (EU) 2017/2402 to report loan-level data on the individual transaction to an ESMA securitisation repository using the relevant templates specified in the implementing technical standards adopted by the Commission under Article 7(4) of that Regulation; and (b) submissions of loan-level data in accordance with paragraph 2(a) have commenced.’; (c) Section II is amended as follows: (i) paragraph 2 is replaced by the following: ‘2. The ABSs must achieve a compulsory minimum compliance level, assessed by reference to the availability of information, in particular the data fields of the loan-level data reporting template.’; (ii) in paragraph 3, the first sentence is replaced by the following: ‘3. To capture non-available fields, a set of six “no data” (ND) options are included in the loan-level data reporting templates and must be filled in whenever particular data cannot be submitted in accordance with the loan-level data reporting template.’; (d) Section III is amended as follows: (i) the title is replaced by the following ‘III. DATA SCORE METHODOLOGY’; (ii) paragraph 1 is deleted; (iii) paragraph 2 is replaced by the following: ‘2. The loan-level data repository generates and assigns a score to each ABS transaction upon submission and processing of loan-level data.’; (iv) paragraph 4 and Table 3 are deleted; (e) in Section IV.II entitled ‘Procedures for designation and withdrawal of designation’, paragraph 1 is replaced by the following: ‘1. An application for designation by the Eurosystem as a loan-level data repository must be submitted to the ECB's Directorate Risk Management. The application must provide appropriate reasoning and complete supporting documentation demonstrating the applicant's compliance with the requirements for loan-level data repositories set out in this Guideline. The application, reasoning and supporting documentation must be provided in writing and, wherever possible, in electronic format. No application for designation will be accepted after 13 May 2019. Any application received prior to that date will be processed in accordance with this Annex.’;