ABS Eligibility Assessment Application Forms - (rev.2015-May)
To start the process of the eligibility assessment of an asset-backed security
(ABS), a completed application form and all related documents must be submitted to
De Nederlandsche Bank (DNB). The ABS Assessment Application Form consists of
three parts: Documents, Tranche and Program. The application form and queries
relating to this form can be directed to collateral_management@DNB.nl.
In addition, please provide a signed cover letter confirming that the information
provided in the application form is complete and correct. Please forward a hardcopy
of this cover letter via post to DNB (address: Payments and Securities Department,
Collateral Management, P.O. Box 98, 1000 AB Amsterdam) and a scanned version
to collateral_management@dnb.nl.
Please note that when answering a question by referencing the prospectus, a legal
opinion or other transaction documents, exact paragraphs and page numbering
must be included. It is insufficient to simply state "please see prospectus".
All Articles quoted in this eligibility assessment application form refer to the
corresponding Articles in Guideline ECB/2014/60 of the ECB of December 19, 2014
on the implementation of the Eurosystem monetary policy framework (recast). This
Guideline is also referred to as the General Documentation (GD).
General information
Date of application
Click here to specify the date.
Transaction name
Click here to enter text.
Click here to enter text.
Tranche for which eligibility is being sought
Click here to enter text.
ISIN code
Click here to enter text.
Denomination of tranche1
Click here to specify the date.
Issuance date of the security
Click here to specify the date.
Maturity date of the security
Click here to specify the date.
First optional redemption date
CSD of issuance
Click here to enter text.
SSS where the ABS is held
Click here to enter text.
The diagram of the transaction
Click here to specify where this can
be found.
The ABS are governed by a Master Issuer
Click here to choose the applicable.
If the ABS Master Issuer has been assessed on eligibility by DNB, and no material
changes which have effect on the eligibility have been occurred since, the part 3
Program does not have to be provided.
Click here to choose the applicable.
Please check the box to confirm that a written declaration which states that all
criteria relating to close links are fulfilled is provided
☐
If any material changes occur to the asset backed security which have an impact on
the eligibility requirements, DNB shall be informed instantly by the counterparty.
Please complete the following prior to submission:
Name: Click here to enter text.
Position: Click here to enter text.
Company: Click here to enter text.
Company Address: Click here to enter text.
Signature: Click here to enter text.
Date:Click here to enter date.
1
In order to be eligible, debt instruments shall be denominated in euro or in one of the former
currencies of the Member States whose currency is the euro.
ABS Eligibility Assessment Application Form Part 1. - DOCUMENTS
Please check the box when the document is provided:
Prospectus
New Issue Report
- Moody’s
- Fitch
- S&P
- DBRS
Rating Letter
- Moody’s
- Fitch
- S&P
- DBRS
Euronext Listing Notice
Transaction Legal Opinion
Cash Flow Data
Loan Level Data
Parallel Debt Agreement
Issuer Services Agreement
ISDA Master Agreement
Liquidity Facility Agreement
Administration Agreement
Issuer Rights Pledge Agreement
Swap Confirmation
Trust Deed
Mortgage Receivables Purchase Agreement
Other documents:
Click here to enter text
Click here to enter text
Click here to enter text
Click here to enter text
Click here to enter text
Click here to enter text
Click here to enter text
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
☐
ABS Eligibility Assessment Application Form Part 2. - TRANCHE
GD Art. 63 Acceptable coupon structures for marketable assets
63.1. Please provide the applicable coupon structure(s):
- Click here to specify where this is evidenced in the documentation.
Please provide details on any changes to the coupon structure over the lifetime of
the transaction
- Click here to specify where this is evidenced in the documentation.
63.5. The coupon structure has no issuer optionalities, i.e. during the entire lifetime
of the asset, based on a forward- and backward looking perspective.
Click here to select the applicable answer
Please indicate the coupon frequency:
Please indicate the first coupon payment date:
Click here to specify the date.
Click here to specify the date.
Art. 66 – Place of issue of marketable assets
66.1. If Article 66.1 applies and the ABS thus is issued in the EEA with a central
bank or with an SSS, has central bank or SSS been positively assessed pursuant to
the Eurosystem User Assessment Framework:
- Click here to choose one.
- Click here to specify where this is evidenced in the documentation.
66.3. If Article 66.3 applies and the ABS thus is issued through the ICSD Euroclear
Bank and Clearstream Banking Luxembourg, please provide the following
information on the form in which the ABS was issued:
- Click here to choose one.
- Click here to specify where this is evidenced in the documentation.
GD Art. 77 Non-subordination of tranches for asset-backed securities
77.1. The tranches or sub-tranches of the ABS are not subordinated to other
tranches of the same issue over the lifetime of the ABS.
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
GD Art. 82 Eurosystem’s credit quality requirements for marketable assets
82.1(b). The tranches or sub-tranches for which eligibility is being sought has a
credit assessment provided by at least two public credit ratings, in compliance with,
as a minimum, credit quality step 2 (i.e. rating of A-)
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
ABS Eligibility Assessment Application Form Part 3. - PROGRAM
If the ABS is governed by a Master Issuer and (i) the ABS Master Issuer has been
assessed on eligibility by DNB and (ii) no material changes which have effect on the
eligibility have occurred since, this part 3. Program is not required.
GD art. 73 - Homogeneity and composition of the cash-flow generating
assets
73.1. In order for ABSs to be eligible, all cash-flow generating assets backing the
ABS must be homogenous, i.e. it shall be possible to report them according to one
of the existing loan level templates which shall be one of the following:
- Click here to choose the applicable template.
- Click here to specify the European Data Warehouse Code
- Click here to specify where this is evidenced in the documentation.
73.3. The ABS must not contain any cash-flow generating assets originated directly
by the SPV issuing the ABS:
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
73.4. The cash-flow generating assets must not consist, in whole or in part, actually
or potentially, of tranches of other ABSs2:
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
73.5. The cash-flow generating assets must not consist, in whole or in part, actually
or potentially, of credit-linked notes, swaps or other derivatives instruments,
synthetic securities or similar claims3:
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
73.6. The cash-flow generating assets backing commercial mortgage-backed
securities must not contain loans which are at any time structured, syndicated or
leveraged4:
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
73.7. The cash-flow generating assets backing the ABSs must not comprise of
leasing receivables with residual value leases5:
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
2
This criterion shall not exclude ABSs where the issuance structure includes two SPVs and the ‘true
sale’ criterion is met in respect of those SPVs so that the debt instruments issued by the second SPV
are directly or indirectly backed by the original pool of assets and all cash flows from the cash-flow
generating assets are transferred from the first to the second SPV.
3
This restriction shall not encompass swaps used in ABS transactions strictly for hedging purposes.
4
For the purposes of this criterion, ‘structured loan’ means a structure involving subordinated
tranches, ‘syndicated loan’ means a loan provided by a group of lenders in a lending syndicate and
‘leveraged loan’ means a loan provided to a company that already has a considerable degree of
indebtedness, such as buy-out or take-over-financing, where the loan is used for the acquisition of the
equity of a company which is also the obligor of the loan.
5
ABSs that were on the list of eligible assets on 1 May 2015 shall maintain their eligibility until 31
August 2015
GD art. 74 - Geographical restrictions concerning asset-backed securities
and cash-flow generating assets
74.1. The issuer of the ABS must be an SPV established in the EEA:
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
74.2. The cash-flow generating assets must be originated by an originator
incorporated in the EEA and sold to the SPV by the originator or by an intermediary
incorporated in the EEA6:
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
74.4. The obligors and the creditors of the cash-flow generating assets must be
incorporated, or, if they are natural persons, resident in the EEA:
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
GD art. 75 – Acquisition of cash-flow generating assets by the SPV
75.1. The acquisition of the cash-flow generating assets by the SPV must be
governed by the law of a Member State:
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
75.2. Please provide information on the ‘ true sale’ criterion, i.e. if this eligibility
criterion has been satisfied
- Click here to select the applicable answer
- Click here to specify where this is evidenced in the documentation.
GD art. 76 – Assessment of clawback rules for asset-backed securities
76.1. Please specify for each the cash flow generating assets:
(a) The respective jurisdicition; and
(b) Each of the laws governing the legal instruments constituting each of the cash
flow generating assets
- Click here to enter text.
76.2. Please provide information on the clawback rules criterion, i.e. if this
eligibility criterion has been satisfied.
- Click here to enter text.
6
Mortgage trustee or receivables trustee shall be considered to be an intermediary
Parties involved in the transaction
Please provide for each of the following parties in the transaction: the name,
country of incorporation, the jurisdiction of incorporation and MFI code (if
applicable):
Issuer
Click here to enter text (the name, country of incorporation, jurisdiction of
incorporation and MFI code (if applicable)
Originator
Click here to enter text (the name, country of incorporation, jurisdiction of
incorporation and MFI code (if applicable)
Seller(s)/Transferer(s)
Click here to enter text (the name, country of incorporation, jurisdiction of
incorporation and MFI code (if applicable)
Intermediaries
Click here to enter text (the name, country of incorporation, jurisdiction of
incorporation and MFI code (if applicable)
Obligors
Click here to enter text (the name, country of incorporation, jurisdiction of
incorporation and MFI code (if applicable)
Account bank
Click here to enter text (the name, country of incorporation, jurisdiction of
incorporation and MFI code (if applicable)
Servicer (and back-up servicer, if applicable)
Click here to enter text (the name, country of incorporation, jurisdiction of
incorporation and MFI code (if applicable)
FX-swap counterparty (and back-up Fx-swap counterparty)
Click here to enter text (the name, country of incorporation, jurisdiction of
incorporation and MFI code (if applicable)
Liquidity support provider (and back-up liquidity support providor)
Click here to enter text (the name, country of incorporation, jurisdiction of
incorporation and MFI code (if applicable)
Other parties involved
Click here to enter text (the name, country of incorporation, jurisdiction of
incorporation and MFI code (if applicable)