2011 exemption threshold for securitization vehicles
Further to a letter of the Banque Centrale de Luxembourg (“BCL”) dated 26 November 2010 referring to point 4.3 "Entities subject to the BCL's statistical reporting" of circular BCL 2009/224 concerning the introduction of a new statistical data collection for securitization vehicles, the exemption threshold for securitization vehicles for 2011 amounts to EUR 100,000,000.- (unchanged from 2010). Therefore securitization vehicles which are below this threshold are exempted from the whole set of statistical reporting obligations, apart from the obligation to report, on a quarterly basis, end-of-quarter outstanding amount data on total assets, provided that the securitization vehicles that contribute to the quarterly aggregated assets/liabilities account for at least 95% of the total assets of securitization vehicles in terms of outstanding amounts. The securitization vehicles of which the balance sheet total exceeds the aforementioned threshold of EUR 100,000,000.- within the year must submit the reports as from the quarter-end following the crossing of the threshold. The statistical reports S 2.14 and S 2.15 must be submitted to the BCL at the latest on the 20th working day following the end of the quarter to which the data is relevant.
The calendar of remittance dates for the statistical reporting of securitization vehicles in 2011 as provided by the BCL is as follows:
Report S.2.14 Report S.2.15
March 2011 03.05.2011 03.05.2011
June 2011 28.07.2011 28.07.2011
September 2011 31.10.2011 31.10.2011
December 2011 30.01.2012 30.01.2012
If the balance sheet total of reporting securitization vehicles fall durably within the year below to the aforementioned threshold, it is important to inform the BCL before the submission deadline in order to benefit from the reporting exemption.
