On March 24, 2016, the ECB published Guidance for large Eurozone banks when acting as originator institutions on the recognition of significant credit risk transfer. The Capital Requirements Regulation sets out conditions for the recognition of a significant risk transfer by an originator institution which are supplemented by EBA Guidelines on Significant Credit Risk Transfer. The ECB is responsible for the direct prudential supervision of the largest banks in the Eurozone. The ECB’s Guidance sets out the notification and information requirements for an application for recognition to the ECB. The Guidance should be followed for all securitizations issued after publication of the Guidance.