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Review of the Securitisation Framework

COD - Ordinary legislative procedure (ex-codecision procedure)2025/0826(COD)Committee: Economic and Monetary AffairsDG: [FISMA] Financial Stability, Financial Services and Capital Markets Union

Policy topics

EU Single Market harmonisationMarkets in Financial Instruments Directive (MiFID)European Banking UnionFinancial regulation

What this file does

Overview

The policy initiative analysed is a legislative file, 2025/0826(COD), concerning amendments to Regulation (EU) 2017/2402 to create a specific framework for simple, transparent and standardised (STS) securitisation. The procedure is ongoing, with the European Parliament currently awaiting a committee decision at first reading. This analysis is based on the consolidated summary of amendments from the European Parliament’s Committee on Economic and Monetary Affairs (ECON-AM-782502), a report overview detailing the extent of parliamentary modifications, and data on key provisions, procedural narrative, institutional handling, and stakeholder engagement.

Legislative timeline

The legislative procedure commenced with the referral of the Commission proposal to the European Parliament’s committee on 8 September 2025. The committee report was tabled on 11 December 2025, followed by the tabling of committee amendments on 6 January 2026. The most recent procedural events recorded are from December 2025, where the Council listed the proposal on the agenda of the Economic and Financial Affairs Council. The file remains at the committee stage in the Parliament, with the next steps not yet specified in the available data.

Institutional handling

The lead committee in the European Parliament is the Committee on Economic and Monetary Affairs (ECON). Within the European Commission, the responsible department is the Directorate-General for Financial Stability, Financial Services and Capital Markets Union (FISMA), under Commissioner Maria Luís Albuquerque. In the Council of the EU, the dossier is handled by the Economic and Financial Affairs Council (ECOFIN) configuration.

Stakeholder reactions

Stakeholder engagement with policymakers on this file has been active, with 58 documented meetings held with Members of the European Parliament. These involved 45 distinct organisations. The most frequently engaged organisations, based on the number of meetings, were the Fédération bancaire française, Finance Watch, Associazione Bancaria Italiana, BlackRock, and QED Brussels.

Media coverage

One relevant article from Brussels-based media is noted. The article outlines upcoming EU economic policy discussions, including appointments and regulatory amendments, and references Cyprus’s EU Presidency priorities.

Institutional status

CommissionOngoing
ParliamentAwaiting Parliament's position in 1st reading
CouncilFirst reading

Official documents (9)

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