Issuers re-label RMBS deals as STS ahead of LCR deadline

By Tom Brown
15 Oct 2019

Aegon and NIBC have both retrofit their Dutch RMBS deals, Saecure 16 and Dutch MBS 19, with the ‘simple, transparent and standardised’ (STS) regulatory label as the liquidity coverage ratio (LCR) deadline of April 2020 approaches.

The deals, launched at the end of last year, will be listed on ESMA’s website before being officially labeled as STS.

As of April 2020, the LCR benefit disappears for non-STS paper, and any deals eligible to be amended retroactively are likely to be retooled over the ...

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