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Criterion A6: Initial and Ongoing Data (Transaction Level)
No: 44047144
Date(g): 27/12/2022 | Date(h): 4/6/1444
Status: In-Force
18.124
The sponsor should ensure that the individual sellers (in their capacity of servicers) provide it with:
(1)
Sufficient asset level data in accordance with applicable laws or, in the case of granular pools, summary stratification data on the relevant risk characteristics of the underlying pool before transferring any credit claims or receivables to such underlying pool.
(2)
Timely asset level data in accordance with applicable laws or granular pool stratification data on the risk characteristics of the underlying pool on an ongoing basis. Those data should allow the sponsor to fulfil its fiduciary duty at the conduit level in terms of disclosing information to investors including the alignment of cut off dates of the asset level or granular pool stratification data with those used for investor reporting.
18.125
The seller may delegate some of these tasks and, in this case, the sponsor should ensure that there is appropriate oversight of the outsourced arrangements.
