Securitisations in CEE

2020 | roadmap

Securitisations in Central and Eastern Europe were not particularly active before or after the financial crisis in 2008. Some local originators did recognise securitisation as a potentially useful balance sheet management tool and transactions have been occasionally executed in Austria, the Czech Republic, Hungary and Poland. The financial assets that are typically securitised on these markets are consumer loan receivables, lease receivables (including auto leases, leasing), NPLs and trade receivables. In other CEE jurisdictions, however, securitisations practically never kicked in.

The adoption of Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 did not have much impact on the CEE securitisation markets so far. Still, the Regulation is rather new and its effects will only be seen in the coming years. Perhaps the intention of the Regulation to create a framework for simple, transparent and standardised securitisation will at some point be acknowledged in CEE, rousing securitisation from its current slumber. Before this happens, we have set out on a journey through the CEE to discover how some of the key features of securitisation are treated. The results are below. 

Contributors from each jurisdiction:

  • Austria – Pressler Matthias
  • Bulgaria – Tsvetan Krumov
  • Croatia – Ozren Kobsa
  • Czech Republic – Ondrej Havlicek
  • Hungary – Gergely Szaloki
  • Poland – Marcin Antczak, Paweł Halwa and Paula Weronika Kapica
  • Romania – Cristina Tudoras
  • Serbia – Petar Kojdic
  • Slovenia – Lea Avsenik and Vid Kobe


Matthias Pressler


T: +43 1 534 37 50384

Tsvetan Krumov

Attorney at Law

T: +359 2 93310 90

Ozren Kobsa*

Attorney at Law

T: +385 1 4579 916


Gergely Szalóki

Local Partner

T: +36 1 8700 690


Paweł Halwa


T: +48 22 223 09 11


Paula Weronika Kapica

Attorney at Law

T: +48 22 223 09 20

Cristina Tudoraș

Attorney at Law

T: +40 21 319 67 90


Vid Kobe

Local Partner

T: +386 1 200 09 34

Lea Avsenik


T: +386 1 200 09 65