Clifford Chance

Shortcomings identified by AMF review of STS securitisations

6 September 2022

In a summary of findings from its SPOT inspections of STS securitisations published 30 August 2022 (the "Report"), the French Autorité des marchés financiers ("AMF") identified significant shortcomings in market practices, as well as certain "good" and "poor" practices associated with the use of the STS label.

In this briefing we review the findings of the Report and consider its implications for both French and broader European STS market participants.

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