The PCS Europe Board has agreed to change of the end of the PCS Interim Period from September 11th, 2013 to October 11th, 2013.
The Interim Period allows Originators to evidence certain items (such as the audit or certain reps and warranties) in the Originator Certificate rather than the prospectus. The PCS Board will be approving a number of changes to the PCS criteria in the next few days and the extension is designed to provide some certainty for PCS label applicants who have, or are about to apply for a PCS label.
This temporary Interim Period extension will only be available to new applicants until the date at which the new criteria have been announced, which we anticipate to be in the next few days.
Note 1: Dutch Issuers can additionally benefit from the Interim Period extension until the earlier of (1) October 11th, 2013, and (2) the date upon which “conforming” Dutch criteria changes have been introduced.
Note 2: Issuers who have already applied for a label as at September 12th, 2013 may choose between applying under the current criteria (together with the Interim period facility) or the new criteria to be introduced in the next few days.