Annexes 12 and 13: Investor Reports - Gross Charge-Offs in the Period

Question

(a) Are ‘charge offs’ the same as ‘write-offs’? (b) Does this field refer only to credit cards exposures or is it referring to default information regardless of the underlying exposure? (c) Could charge-offs correspond to provisions for badly damaged vehicles, provisions for stolen vehicles, or depreciation accruals? (d) How should this field be completed if there are no Charge-Offs?

European Securities and Markets Authority · Accepted Answer

[ESMA 33-128-563 Securitisation Q&A, Q&A 5.14.5] (a) This is confirmed. (b) This field refers to default information regardless of underlying exposure type. (c) Charge-offs generally correspond to situations where there are no further past-due amounts on the underlying exposure. (d) In such a situation, the value ‘0’ should be entered.

Annexes 12 and 13: Investor Reports - Gross Charge-Offs in the Period

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