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On June 17, 2025, the European Commission released proposed amendments to the EU Securitisation Regulation (EUSR). These proposals are highly anticipated and follow the Joint Committee of the European Supervisory Authorities’ report from March 2025, which aimed to assist the Commission in developing these changes.
These proposed amendments, referred to as the EUSR Proposals, are considered crucial for the European securitization industry, especially given recent support for revitalizing the securitization market and its potential benefits for the EU economy.
The EUSR Proposals include an explanatory memorandum detailing the reasons behind the proposed changes, along with a draft amendment to the EUSR (the EUSR Draft Amendment). Concurrently, the Commission also published proposals for amendments to the EU Capital Requirements Regulation (EU CRR) concerning securitization exposures, including a draft amendment to the EU CRR.
Furthermore, on the same day, the Commission released a draft regulation to amend the Liquidity Coverage Ratio (LCR) Delegated Regulation. A consultation on securitization-related amendments to the Solvency II Delegated Regulation is expected in the latter half of July 2025. This suite of proposals collectively aims to improve the EU’s regulatory framework for securitizations, with the stated goal of making it “less burdensome and more principles-based.”

Video courtesy of ABN-AMRO

Video courtesy of ABN-AMRO