ESMA · ESMA_QA_1382 Answer Published

Annex 3: Underlying Exposures - Commercial Real Estate - Index Determination Date

Regulation
Securitisation Regulation (EU) 2017/2402
Topic
Securitisation Disclosure Templates
Submitted
2019-05-27
Answered
2019-05-27
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Question

CREL116 (Index Determination Date) - How are non-business days considered? E.g. if an underlying exposure pays on the 1st but the 1st is not a business day and the 3rd is the next business day, should the 1st or 3rd be entered here?

Answer

[ESMA 33-128-563 Securitisation Q&A, Q&A 5.5.5] As set out in the description for this field, if the underlying exposure Agreement states specific dates for the index to be set, enter the next index determination date. If the index is determined on the 3rd, then this is the date that should be entered. If the index is determined on the 1st, then the 1st should be entered.
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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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