TY - JOUR T1 - Increasing Transparency and Opportunity with Loan-Level Performance Data JF - The Journal of Structured Finance SP - 70 LP - 76 DO - 10.3905/jsf.2012.18.3.070 VL - 18 IS - 3 AU - Dave Colling AU - Kevin Samborn Y1 - 2012/10/31 UR - https://pm-research.com/content/18/3/70.abstract N2 - In December 2010, the governing council of the European Central Bank (ECB) announced its intention to establish loan-by-loan data requirements for asset-backed securities (ABS) in the Eurosystem collateral framework, with the aim of improving transparency and helping to restore investor confidence in the European securitization markets. In April 2011, the ECB encouraged the creation of a data warehouse for the processing, verification, and transmission of loanlevel performance data (LLPD) by an independent constructor external to the Eurosystem. An independent group of nine leading ABS investors and originators from across Europe was formed to oversee and advise the selection of companies to create a European central data repository for the processing, verification, and transmission of LLPD. The European DataWarehouse (ED) now processes, verifies, and makes available asset-class-specific LLPD for the benefit of originators, investors, data providers, and other interested parties. In July 2012, the ECB announced that valid LLPD for new and existing residential mortgage-backed securities deals must be collected and submitted to ED by September 2013, with other ABS asset classes to follow later. Following the industry’s positive response to the ECB transparency initiative, European investors will shortly, for the first time, have the means to receive, interrogate, and analyze a standardized view of asset-class-specific LLPD across most euro jurisdictions.TOPICS: Performance measurement, legal/regulatory/public policy ER -