On December 22, 2014, the European Banking Authority (“EBA”) issued a report followed by an opinion on securitization retention, due diligence and disclosure requirements under the Capital Requirements Directive IV (“CRD IV”) package. The report assesses the compliance and measures taken by national competent authorities in relation to securitization risk retention, due diligence and disclosure requirements and the opinion makes nine recommendations on the overall appropriateness of requirements related to exposures to transferred credit risk, and one recommendation on the convergence of the retention rules regulatory frameworks.

The report and opinion are available at:

http://www.eba.europa.eu/documents/10180/534414/Securitisation+Risk+Retention+Report.pdf  and

http://www.eba.europa.eu/documents/10180/657547/EBA+OP+2014+14%28%20 Securitisation+Risk+Retention+Opinion%29.pdf.