The European DataWarehouse, which will store and validate the ABS loan-level data, is established in July 2012. A launch event is held on 29 November 2012 at the ECB premises.
Announcement that the loan-level templates will begin for RMBS and SME ABS on 3 January 2013, and for CMBS on 1 March 2013.
December 2010 – June 2012: Implementation phase
The Eurosystem will continue to accept securities not meeting the criteria until the obligation to submit loan-level data comes into force.
In 2011 the Eurosystem will actively encourage market participants to establish a data handling infrastructure to facilitate the transmission of loan-level data.
When the necessary data-handling infrastructure has been established, the provision of loan-by-loan information will become an eligibility requirement for the instruments concerned. The Eurosystem will continue to accept securities which do not meet the criteria so long as the provision of that information remains voluntary.
April 2010 – December 2010: Preparatory phase
The project team worked to develop loan-level data templates and to define the key elements of the initiative. Rapid progress was made thanks to the close collaboration of several senior market participants via Technical Working Group.
The preparatory phase ended with the announcement of the establishment of loan-by-loan information requirements on 16 December 2010.
December 2009 – April 2010: Study phase
The Eurosystem investigated with a number of market participants the usefulness of having ABS loan-by-loan information in its collateral framework.
The ECB launched a public consultation on the matter on 23 December 2009.
The consultation period ended on 26 February 2010 and revealed strong support for the initiative (public consultation)
In the light of that support, the Governing Council decided in April 2010 that preparations for the establishment of loan-level information requirements for ABSs in the Eurosystem collateral framework should commence.