BPCE Consumer Loans FCT 2022: 29 July 2022

The purpose of the Issuer is to issue debt securities and to purchase consumer loan receivables from, notably, each of (i) any Banque Populaire and (ii) any Caisse d’Epargne on a regular basis. On the Issuer Establishment Date and on each Purchase Date thereafter, the Issuer will purchase from the Sellers a portfolio of unsecured consumer loan receivables arising from consumer loan agreements entered into with certain individual borrowers located in France with a view to finance consumer goods or for treasury purposes or to refinance in full or in part existing consumer loans.

The provisional portfolio (as at 30 April 2022) comprised 180,383 fixed-rate Consumer Loan Agreements (advanced to 177,692 borrowers) for an aggregate Outstanding Principal Balance of € 1,716,460,262. The average Outstanding Principal Balance by Consumer Loan Agreement of the provisional portfolio was € 9,516 with an average seasoning of the selected Consumer Loan Agreements of 14.8 months. Product type: auto – 42.5%, home improvement – 33.8%, treasury – 23.7%. Geographical Concentration : Auvergne-Rhône-Alpes – 13.8%, Ile-de-France – 12.0% and Nouvelle-Aquitaine – 11.0%.

EU & UK Risk Retention: Each Seller in its capacity as originator within the meaning of Article 2(3) of the EU Securitisation Regulation has undertaken that, during the life of the transaction, it shall comply at all times with the provisions of Article 6 of Regulation (EU) 2017/2402 of the European Parliament and therefore retain, on an ongoing basis, a material net economic interest in the transaction which, in any event, shall not be less than 5%. At the Issue Date, such material net economic interest shall be retained by each Seller through the subscription of the Class B Notes in relation to the proportion of the total securitised exposures for which it is the originator. Such material net economic interest is also retained in accordance with option (d) of Article 6(3) of the UK Securitisation Regulation through the subscription of the Class B Notes.

STS : BPCE as sponsor intends to submit on or about the Issue Date an STS notification to ESMA in relation to the securitisation transaction described in the Prospectus in accordance with Article 27 of the EU Securitisation Regulation.

Compare/contrast: BPCE Demeter Tria FCT, FCT Noria 2021