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BNY Mellon Unveils New Reporting Capabilities Ahead Of SEC Proposals To Regulation AB

BNY Mellon has introduced new modeling and reporting capabilities that would allow issuers to comply with the complex and technical requirements of Securities and Exchange Commission's (SEC) proposals related to Regulation AB for asset-backed securities.

Regulation AB is a comprehensive set of rules and amendments that address the registration, disclosure and reporting requirements for asset-backed securities.

BNY Mellon said that its new capabilities can offer issuers waterfall models in the Python programming language, loan-level details in XML, a cash-flow projection engine that supports loan-level default and prepayment modeling, and a desktop application making models and data publicly accessible to users globally.

Douglas Magnolia, managing director at QSR Management unit at BNY Mellon, said: “If these proposed changes are adopted, issuers of asset-backed securities will need to comply with complex reporting requirements that they are not currently equipped to meet.”