229 ou rnidg ei nr awt roirt si n, gi s ssut aenr sd aarndds i annv de sat oprpsr ot op raipa pt el yl y amc counr iattoer qt uh ae l iut yn ds ec rr el yeinnign gc sr e, di mi t prrios vk es (EBA, 2014b). A2 0s 1a1 .r eAsrutlitc,l et h4e0r5i sokf rteht ee nCt iaopni traul lRe ewq ua si r ei nmt reondt su cReedg uf ol ar tni oenw ( sCeRcRu)r i t i z a t i o n s i n 69 sets forth tshe ec urri istki zraet ti eo nn tsi oi sns ur uelde st hf oerr esaefct ue rr i tsihz oa ut ilodn sf oilsl os uwe dt hbee fSoerceu 1r i tJiaznaut iaorny R2 e0g1u9l aatni odna. l l 70 The requirements relating to the risk retention pursuant to Article 6(7) of Regulation (EU) 2017/2402 are specified in the EBA final draft regulatory technical standards.71 According to the rule, a material net economic interest of no less than 5% should be retained at all times by the tranche retainer. The retainer should officially document this and share the information with the investor. The rheegdugliantgi oonr aol tshoepr rwoihs ieb ti rt sa nt hs ef eor rr ii ng ign taht eo rr iosrk tshoef st ph oe nsseoc ru frri ot imz a dt i ior ne .c At l yl s oo r, iitnsdeitrse-cotul yt at od dc iot mi o np al yl, dsius cc hl o saus r de uree qdui il ri geemnec ne t sr etqouwi rhe imc he nt ht se. sI np oanpspolrysi nagn dt hoer irgiisnka troert se nntei oe nd rule, the retainers should follow one of the five risk retention methods as set out bo ny er ei sg ua ll as toi onno. tHael lnocwe e, ad ctoomc hbai nnagtei ot nh eo fmr ei st kh or edt ednutriionng mt heet ht eordms ios fntohte atlrl oa nwseadc ,t ai onnd. The CRR and Securitization Regulation allow the following five methods to be used as a risk retention method: 1. Vertical Slice (VES): a retention of no less than 5% of the nominal value of each of the tranches sold or transferred to investors. 69 Article 405 of Regulation (EU) No 575/2013 Retained interest of the issuer. 70 Regulation (EU) No 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitization and creating a specific framework for simple, transparent and standardized s1e0c6u0r/it2iz0a0t9ioann,dan(EdUa)mNeon6d4in8g/2D0i1re2c.tives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 71 EBA final draft regulatory technical standards - Specifying the requirements for originators, sponsors, original lbeynRdeegrsulaantdiosne(rEvUic)er2s0r2e1la/t5i5n7g.to risk retention pursuant to Article 6(7) of Regulation (EU) 2017/2402 as amended Chapter 6 - Risk Retention in the European Securitization Market
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