On Jun. 12, 2025, EFTA said EEA committee decision enters in force Aug. 1, 2025.
On May 21, NOR GVT issued EEA note on underlying exposures.
NOR GVT issued EEA position note on Reg 2024/584 RTS regarding homogeneity of underlying exposures in STS securitization according to the Securitization Regulation.
Follows EC Feb. 2024 issued final Reg 2024/584 on homogeneity in EU OJ, #144472.
EEA Overview
Reg in force in the EU but main legal act not yet included in the EEA Agreement.
It amends Reg 2019/1851 which complements Reg 2017/2402 (Securitization Reg).
The Securitization Regulation has not yet been included in the EEA Agreement.
Changes ensure synthetic securitizations are covered by the same management procedures in terms of requirements for homogeneity as traditional securitizations.
Changes also made to the methodology used when assessing homogeneity factors.
Reference also made to EEA notes for Regs 2019/1851, 2017/2402 and 2021/557.
Norwegian Situation
It will be included in EEA Agreement, implemented in NOR law upon incorporation.
I.e. provision included in law or regulation that it applies as a Norwegian regulation.
It will not entail financial and administrative consequences beyond what applies to the main legal act, Securitization Regulation; it was assessed as EEA-relevant, acceptable.
Jun. 2024 EEA JC Decision
On Jun. 12, 2024, EEA JC adopted Dec 148/2024 incorporating Reg 2024/584 into the EEA Agreement; decision shall enter into force on Jun. 13, 2024.
In Jun. 2024, EEA JC adopted decision on SR technical standards, see #215671.
Oct. 2024 Official Journal
On Oct. 3, 2024, EEA JC issued Dec 148/2024 of Jun. 12, 2024, in the Official Journal.
Decision in force on Jun. 13, 2024, provided that all notifications under Article 103(1) of the EEA Agreement have been made, or on the day of entry into force of Decision of the EEA Joint Committee No 146/2024 of Jun. 12, 2024, whichever is the later.
In Dec. 2024, NORFSA outlined on-balance sheet securitization criteria, see #237584.
Jun. 2025 Constitutional Requirements Met
On Jun. 12, 2025, EFTA said EEA committee decision enters in force Aug. 1, 2025.
Regulators
EEA JC; EFTA; NOR GVT
Entity Types
B/D; Bank; Corp; Depo; MG Orig; Servicer
Reference
PR, 6/12/2025; OJ L, 2024/2429, 10/3/2024; PR, Dec 148/2024, 6/12/2024; Nt, PR, 5/21/2024; Reg 2024/584; Reg 2021/557; RTS Reg 2019/1851; SR Reg 2017/2402; EEA Agreement; Citation: Reg 2024/584; Dec 148/2024;
