Fraud Prevention
Definition
TPV (Third-Party Verifier)
In EU/UK STS securitisation: an ESMA-registered or FCA-registered independent entity verifying the originator's STS self-certification. ESMA Peer Review (March 2025) found NCAs over-relying on TPV attestations.
Deep Dives
Related Terms
STS (Simple, Transparent, Standardised)
EU designation under SR Articles 19–26 for traditional securitisations meeting specified quality criteria, conferring preferential capital treatment. Must be notified to ESMA via portal (traditional) or email STSnotifications@esma.europa.eu (synthetic).
ESMA Securitisation Repositories
ESMA-registered repositories (EuroDW and SecRep B.V.) where securitisation loan-level and investor reports must be filed. Issuers must file with one; ESMA DESK portal provides investor access.