The shortlist for our 2026 European Securitization Awards is available here and you can cast your votes on the same page until January 23!
Our usual podcasting trio will return next week, but this week’s episode of Another Fine Mezz covers the best of GlobalCapital’s securitization stories in December on regulation, Australian securitization and a double debut in equity release RMBS.
Traditionally in late December, Santa the European authorities rush to give the market a few early Christmas presents in the shape of reams of regulatory updates. But even by those standards, 2025 yielded a bumper haul in securitization.
On December 11, the European parliament’s Econ Committee published its draft amendments to the Commission's proposed changes to the CRR and Sec Reg. Those will still need to get through the rest of the parliamentary process before parliament takes a final position to the likely trilogue later this year.
The European Council followed on December 19, publishing its final negotiating position on both documents ahead of the trilogue. George Smith has written here on what the details could signal for the fate of the European securitization platform.
An impressive number of law firms got some commentary out before Christmas, but it didn’t stop there.
Also on December 19, the ECB published its new rules for fast track SRT approval, cutting the approval time for qualifying deals from three months to two weeks.
According to the central bank’s website, the fast track, which has been in the works for some time, will apply to “standardised securitisations, namely when the securitised portfolio is performing, not concentrated, and does not contain more than 20% of leveraged loans; when the impact on the bank’s capital ratios of the significant risk transfer is lower than 25 basis points; and when standardised contractual early termination clauses are used”.
Happy new year to all our readers, especially lawyers!
