81.The originator or sponsor must disclose to investors all necessary information at the transaction level to allow investors to determine whether the securitisation is STC-compliant. Based on the information provided by the originator or sponsor, the investor must make an assessment of the STC compliance status of the securitisation for regulatory capital purposes.

82.For retained positions where the originator has achieved significant risk transfer in accordance with the operational requirements of this Standard, the determination shall be made by the originator retaining the position.

83.STC criteria must be met at all times. Checking compliance with some of the criteria might only be necessary at origination (or at the time of initiating the exposure, in case of guarantees or liquidity facilities). Investors and holders of the securitisation positions are expected to take into account developments that may invalidate previous compliance assessments, for example deficiencies in the frequency and content of the investor reports, in the alignment of interest, or changes in the transaction documentation at variance with relevant STC criteria. For dynamic pools, the criteria should be checked every time assets are added to the pool.