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Version status: Amended | Document consolidation status: Updated to reflect all known changes
Version date: 9 April 2021 - onwards
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Article 31 Macroprudential oversight of the securitisation market

1. Within the limits of its mandate, the ESRB shall be responsible for the macroprudential oversight of the Union's securitisation market.

2. In order to contribute to the prevention or mitigation of systemic risks to financial stability in the Union that arise from developments within the financial system and taking into account macroeconomic developments, so as to avoid periods of widespread financial distress, the ESRB shall continuously monitor developments in the securitisation markets. Where the ESRB considers it necessary, and at least every three years, the ESRB shall, in cooperation with EBA, publish a report on the financial stability implications of the securitisation market in order to highlight financial stability risks.

3. Without prejudice to paragraph 2 of this Article and to the report referred to in Article 44, the ESRB shall, in close cooperation with the ESAs, publish by 31 December 2022 a report assessing the impact of the introduction of STS on-balance-sheet secur

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