Preamble
Recitals 49
Chapter 1 - GENERAL PROVISIONS (Article 1-4) 4
Chapter 2 - PROVISIONS APPLICABLE TO ALL SECURITISATIONS (Article 5-9) 5
Chapter 3 - CONDITIONS AND PROCEDURES FOR REGISTRATION OF A SECURITISATION REPOSITORY (Article 10-17) 8
Chapter 4 - SIMPLE, TRANSPARENT AND STANDARDISED SECURITISATION (Article 18-28) 16
Chapter 5 - SUPERVISION (Article 29-37) 9
Chapter 6 - AMENDMENTS (Article 38-48) 12
Amending acts 1
- Regulation (EU) 2021/557from 09/04/2021

first loss tranche

Definitions over time (1)

09/04/2021 – today applies on 13/11/2026 Article 2, Securitisation Regulation Scope: Whole act

For the purposes of this Regulation, the following definitions apply:

‘first loss tranche’ means the most subordinated tranche in a securitisation that is the first tranche to bear losses incurred on the securitised exposures and thereby provides protection to the second loss and, where relevant, higher ranking tranches.

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