Exiting The European Union PART 1 General Citation and commencement 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Interpretation 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 2 Amendment of the Securitisation Regulation CHAPTER 1 Introductory provision Amendments 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 2 Amendment of Chapter 1 of the Securitisation Regulation (general provisions) Article 2 (definitions) 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 3 (selling of securitisations to retail clients) 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 4 (requirements for securitisation special purpose entities) 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 3 Amendment of Chapter 2 of the Securitisation Regulation (provisions applicable to all securitisations) Article 5 (due-diligence requirements for institutional investors) 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 6 (risk retention) 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 7 (transparency requirements for originators, sponsors and SSPEs) 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 8 (ban on resecuritisation) 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 9 (criteria for credit-granting) 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 4 Amendment of Chapter 3 of the Securitisation Regulation (conditions and procedures for registration of a securitisation repository) Article 10 (registration of a securitisation repository) 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 11 (notification and consultation with competent authorities prior to registration or extension of registration) 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 12 (examination of the application) 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Articles 13 to 15 (notification of ESMA decisions relating to registration or extension of registration, powers of ESMA and withdrawal of registration) 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 16 (supervisory fees) 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 17 (availability of data held in a securitisation repository) 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 5 Amendment of Chapter 4 of the Securitisation Regulation (simple, transparent and standardised securitisation) Article 18 (use of the designation ‘simple, transparent and standardised securitisation’) 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 19 (simple, transparent and standardised securitisation) 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 20 (requirements relating to simplicity) 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 23 (simple, transparent and standardised ABCP securitisation) 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 24 (transaction-level requirements) 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 25 (sponsor of an ABCP programme) 23 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 27 (STS notification requirements) 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 28 (third party verifying STS compliance) 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 6 Amendment of Chapter 5 of the Securitisation Regulation (supervision) Article 29 (designation of competent authorities) 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 30 (powers of the competent authorities) 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Articles 31 to 37 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 7 Amendment of Chapter 6 of the Securitisation Regulation (amendments) Articles 38, 39 and 41 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 43 (transitional provisions) 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Articles 44 and 45 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 46 (review) 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 47 (exercise of the delegation) 33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Final provision 34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 3 Amendment of the CRA Regulation Article 3 (definitions) 35 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 4 Amendment of the EMIR Regulation Article 2 (definitions) 36 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 4 (clearing obligation) 37 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 11 (risk-mitigation techniques for OTC derivative contracts not cleared by a CCP) 38 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 5 Amendment of the Capital Requirements Regulation CHAPTER 1 Introductory provision Amendments 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 2 Amendment of Chapter 5 of Title 2 of Part 3 of the Capital Requirements Regulation Chapter 5 (securitisation) 40 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . References to the competent authorities 41 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 242 (definitions for Chapter 5) 42 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 244 43 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 245 44 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 248 45 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 250 (implicit support) 46 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 254 47 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 255 (determination of K IRB and K SA ) 48 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 257 (determination of tranche maturity (M T )) 49 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 270 (senior positions in SME securitisations) 50 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 270a 51 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 270e (securitisation mapping) 52 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . CHAPTER 3 Amendment of other Articles of the Capital Requirements Regulation Article 337 (own funds requirement for securitisation instruments) 53 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Article 519a (reporting and review) 54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 6 Amendment of the Liquidity Commission Delegated Regulation Article 13 of the Liquidity Commission Delegated Regulation (level 2B securitisations) 55 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 7 Amendment of the CRR amending regulation 56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART 8 Amendment of subordinate legislation The Financial Services and Markets Act (Regulated Activities) Order 2001 57 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Amendment of the Securitisation Regulations 2018 58 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .