Autonoria Spain 2019 FdT: 15 December 2019

The receivables to be pooled in the fund comprising the Initial Receivables assigned to the Fund upon being established, and the Additional Receivables later assigned during the Revolving Period, shall exclusively consist of Receivables owned by and carried as assets of Banco Cetelem under auto loans granted to individuals resident in Spain for financing the purchase of New Vehicles or Used Vehicles originated at car dealerships, and to finance the insurance premium of the relevant Insurance Policy.

The initial pool consists of 155,301 fixed-rate auto loans, where the average current balance is Eur10,003 and the largest is for Eur64,983. The pool is highly granular, with the top 10 borrowers responsible for just 0.04% of current balances. Vehicle type: New – 74.12%, Used – 25.88%. Repayment type: French Amortisation – 100.0%. Regional distribution: Andalucía – 17.34%, Cataluña – 16.26%, Madrid – 14.52% and Cdad Valenciana – 11.81%.

EU Risk Retention: Banco Cetelem (jointly with BNP Paribas as its Parent Institution) will comply with the risk retention requirement set out in Article 6 of the EU Securitisation Regulation.

STS: The securitisation transaction is intended to qualify as a simple, transparent and standardised securitisation (STS securitisation) within the meaning of Article 18 of the EU Securitisation Regulation.

Compare/contrast: Autonoria 2019, BBVA Consumo 10 FTA