19.02.2026
Revision of EU Securitisation Regulatory Framework
The EU is currently revising its securitisation framework with the aim of removing unnecessary barriers to issuance while preserving financial stability. Following the European Commission’s proposals in summer 2025, both the EU Council and the European Parliament have now set out their initial positions, with negotiations in Parliament ongoing ahead of trilogues expected later in 2026. These reforms are a key opportunity to strengthen the role of securitisation in financing the real economy, including through lease-backed transactions.
Throughout this process, Leaseurope has been actively engaging with EU institutions to ensure that the specific features of lease securitisations are properly reflected in the revised framework. Through targeted advocacy and technical input, Leaseurope has helped raise awareness of issues affecting auto and equipment lease Asset-Backed Securities (ABS) securitiation, contributing to improved proposals on resilience criteria, tranche definitions and risk-weight calibration. Leaseurope will continue its engagement to support a final outcome that enables greater use of lease securitisation to fund European households and businesses.
In summer 2025, the European Commission adopted a package of legislative measures to simplify and improve the EU securitisation framework. The objective is to revive securitisation activity while maintaining strong safeguards for financial stability. This initiative is the first legislative proposal under the Savings and Investments Union (SIU) strategy and aims to better channel private capital into the real economy.
The current EU securitisation framework has applied since 2019, strengthening transparency, investor protection, and stability. However, after six years of implementation, the Commission has acknowledged that certain requirements have unintentionally constrained market development. The proposed reforms seek to remove these barriers and stimulate issuance and investment, enabling financial institutions—including leasing companies—to make greater use of securitisation, often reducing the cost of funding and enabling reinvestment of capital relief into additional lending and leasing for households and businesses.
Legislative Process: Where Things Stand
Following the Commission’s proposals, both EU co-legislators have now published their initial positions:
- EU Council: Adopted its final negotiating position under the Danish Presidency in December 2025
- European Parliament: The Rapporteur of the dossier Ralf Seekatz (EPP) published his draft report in December 2025; other political groups submitted amendments by the end of January 2026
The European Parliament is expected to agree on a joint position by May 2026, after which trilogue negotiations with the Council will begin.
Council Position
The Council’s approach focuses on correcting key technical issues in the Commission proposal, notably:
- The definition of the senior tranche
- Resilience criteria for auto and equipment lease ABS
- The definition of public transactions
The Council also supports lower risk weights, although its recalibration remains relatively cautious.
European Parliament Rapporteur’s Position
The Parliament’s rapporteur takes a more ambitious stance. His proposals include:
- More substantial improvements to the resilience category
- A more favourable risk-weight calibration
- Several important amendments to the Securitisation Regulation
If adopted, these changes would significantly improve the attractiveness and viability of securitisation, including for lease-backed transactions.
Leaseurope: Actions and Next Steps
Leaseurope is actively engaging with Members of the European Parliament, national authorities, and other key stakeholders to ensure that lease securitisations are fully recognised as a safe and effective financing tool for the real economy. In the coming months, our focus will be on influencing the parliamentary negotiations and supporting a final framework that meaningfully boosts lease securitisation issuance across the EU.
For more information, please contact Rafael Alarcon Abeti at r.alarconabeti [at] leaseurope.org