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Recital 26

Recital 26

(26)Member States should designate the competent authorities responsible for supervising the requirements that the synthetic securitisation has to meet in order to qualify for the STS designation. The competent authority could be the same as the one designated to supervise the compliance of originators, sponsors and SSPEs with the requirements that traditional securitisations have to meet in order to acquire the STS designation. As in the case of traditional securitisations, such competent authority could be different from the competent authority responsible for supervising the compliance of originators, original lenders, SSPEs, sponsors and investors with the prudential obligations laid down in Articles 5 to 9 of Regulation (EU) 2017/2402, the compliance with which was specifically entrusted to the competent authorities in charge of the prudential supervision of the relevant financial institutions, due to the prudential dimension of those obligations.

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