FRANKFURT (MNI) – The European Central Bank said Friday that it
will require information to be reported on a loan-by-loan basis for
commercial mortgage-backed securities accepted as collateral in
Eurosystem refinancing operations.
A verbatim text of the ECB’s statement is below:
“Following the general decision announced on 16 December 2010 to
establish loan-by-loan information requirements for asset-backed
securities (ABSs) in the Eurosystem collateral framework, the Governing
Council of the European Central Bank (ECB) intends to introduce these
requirements for commercial mortgage-backed securities (CMBSs) and
small- and medium-size enterprise (SME) transactions accepted in the
Eurosystem collateral framework within the next 18 months.
Loan-level data for these asset classes will be provided in
accordance with the templates available on the ECB’s website at least on
a quarterly basis on, or within one month of, the interest payment date
of the instrument in question.
The Eurosystem will continue to accept securities not meeting the
new information requirements until the obligation to submit loan-level
data comes into force. Further details on the ECB’s initiative regarding
loan-by-loan information requirements for ABSs are available on the
ECB’s website.”
The ECB’s website is: www.ecb.int.
[TOPICS: M$$EC$,M$X$$$,MGX$$$]
