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SECN 12.1 Application

SECN 12.1.1 G

1This chapter applies to originators, sponsors and SSPEs which are not PRA-authorised persons and which are established in the United Kingdom.

SECN 12.1.2 R

The requirements specified in SECN 12.2, SECN 12.3 and SECN 12.6 apply to all securitisations.

SECN 12.1.3 R

The requirements specified in SECN 12.4 and SECN 12.5 apply to securitisations for which section 85 of the Act (Contravention of prohibition relating to public offer of securities) and rules made by the FCA for the purposes of Part 6 of the Act require a prospectus to be drawn up.

SECN 12.1.4 G

In the SECN 12 Annexes, any references to Regulation (EU) 2017/2402 and related technical standards and to specific Articles therein shall be read as referencing the PRA rules or SECN replacing the relevant provision.

SECN 12.2 Underlying exposure templates

SECN 12.2.1 R

1The information referred to in SECN 11.3.1R(1) and SECN 11.3.2R must be made available using the following templates:

  1. (1)

    the template set out in SECN 12 Annex 2R for loans to private households secured by residential real estate, regardless of the purpose of those loans;

  2. (2)

    the template set out in SECN 12 Annex 3R for loans for the purposes of acquiring commercial real estate or secured by commercial real estate;

  3. (3)

    the template set out in SECN 12 Annex 4R for corporate underlying exposures, including underlying exposures to micro, small and medium-sized enterprises;

  4. (4)

    the template set out in SECN 12 Annex 5R for automobile underlying exposures, including loans and leases to legal or natural persons that are backed by automobiles;

  5. (5)

    the template set out in SECN 12 Annex 6R for consumer underlying exposures;

  6. (6)

    the template set out in SECN 12 Annex 7R for credit card underlying exposures;

  7. (7)

    the template set out in SECN 12 Annex 8R for leasing underlying exposures; and

  8. (8)

    the template set out in SECN 12 Annex 9R for underlying exposures that do not fall within any of the categories set out in (1) to (7).

SECN 12.2.2 R

The information referred to in SECN 11.3.3R and SECN 11.3.4R must be made available using the following templates:

  1. (1)

    the templates set out in SECN 12.2.1R, as relevant to the underlying exposure type; and

  2. (2)

    the template set out in SECN 12 Annex 10R for non-performing exposure securitisations as referred to in SECN 11.3.4R.

SECN 12.2.3 R

The information referred to in SECN 11.3.5R must be made available using the template set out in SECN 12 Annex 11R.

SECN 12.3 Investor report templates

SECN 12.3.1 R

1The information referred to in SECN 11.4.1R must be made available using the template set out in SECN 12 Annex 12R.

SECN 12.3.2 R

The information referred to in SECN 11.4.2R must be made available using the template set out in SECN 12 Annex 13R.

SECN 12.4 Inside information templates

SECN 12.4.1 R

1The information referred to in SECN 11.7.1R must be made available using the template set out in SECN 12 Annex 14R.

SECN 12.4.2 R

The information referred to in SECN 11.7.2R must be made available using the template set out in SECN 12 Annex 15R.

SECN 12.5 Significant event templates

SECN 12.5.1 R

1The information referred to in SECN 11.8.1R must be made available using the template set out in SECN 12 Annex 14R.

SECN 12.5.2 R

The information referred to in SECN 11.8.2R must be made available using the template set out in SECN 12 Annex 15R.

SECN 12.6 Format of information

SECN 12.6.1 R

1The format of the information provided in the templates set out in SECN 12 Annexes 1R to 15R must conform to the corresponding format set out in Table 1 of SECN 12 Annex 1R.

SECN 12.6.2 R

The information must be made available in an electronic and machine-readable form via common extensible markup language (XML) templates.