ESMA · ESMA_QA_1326 Answer Published

Use LDOR code in the field for ‘Current Interest Rate Index’ or ‘Revised Interest Rate Index’

Regulation
Securitisation Regulation (EU) 2017/2402
Topic
Securitisation Disclosure Templates
Submitted
2019-01-31
Answered
2019-01-31
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Question

If a Lender’s Own Rate ‘LDOR’ is directly linked to an interest rate index (e.g. the European Central Bank Base Rate ‘ECBR’), should the code ‘LDOR’ or the code of the relevant interest index (‘ECBR’) be inserted in this field? (RREL44; RREL56; CREL111; CRPL54; CRPL66; AUTL41; CMRL38; CCDL30; LESL37; ESTL40; SEST20; SESI14; SEAT11)

Answer

[ESMA 33-128-563 Securitisation Q&A, Q&A 5.2.7] Only if the Lender’s Own Rate is identical to an interest rate index (e.g. ‘ECBR’) at all times, should the code of the relevant index (‘ECBR’) be inserted in this field. In any other case, the ‘LDOR’ code should be used.
View original on European Securities and Markets Authority ↗

This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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