FEI

Bpifrance, along with the European Investment Fund (EIF) and other European development banks, participates in the ENSI initiative for the securisation of PME receivables by European banks in order to stimulate SME lending in Europe.

ENSI: EIF and NPIs’ Securitisation Initiative
Enhanced co-operation to support SME securitisation in Europe
ENSI is a cooperation and risk sharing platform between the European Investment Fund (EIF) and several National Promotional Institutions (NPIs) – and more generally, economic development institutions in the EU – to encourage SME lending via capital markets.
The ENSI partner institutions are EIF, part of the EIB Group, Bpifrance (FR), British Business Bank (BBB, UK), Cassa Depositi e Prestiti (CDP, IT), Kreditanstalt für Wiederaufbau (KfW, DE), Instituição Financeira de Desenvolvimento (IFD, PT), Instituto de Credito Oficial (ICO, ES) and Malta Development Bank Working Group (MT).
The objective of this joint cooperation in SME Securitisation transactions is to stimulate the availability of finance to SMEs in Europe by revitalizing the SME Securitisation market while catalysing resources from the private sector. This reflects the spirit of the European Fund for Strategic Investments (EFSI) aiming to achieve a much wider outreach in support of SMEs.
The working group defines standard procedures and minimum criteria under which the respective National Promotional Institutions (NPIs) are generally willing to participate in securitisation transactions. Furthermore, the working group liaises with the European Commission to discuss deployment options for funds out of the EFSI for the purpose of securitisation transactions.
What does ENSI offer to the selected National Promotional Institutions?
• ENSI will provide funding and capital relief, reduction of portfolio concentration and/or deconsolidation of SME portfolios to financial intermediaries, subject to compliance with the applicable mandates and internal guidelines of the ENSI partner institutions.
• A single-contact access to a pool of joint support measures provided by ENSI partner institutions.
• A harmonised and transparent framework with streamlined procedures.
• Co-ordination and strengthening of promotional activities across European promotional institutions in a flexible, efficient, and transparent manner.
What are the requirements to be selected as a financial intermediary under ENSI?

Eligible originators are financial institutions duly authorised to carry out SME lending or leasing activities according to the applicable legislation, established and operating in one or several of the EU Member States. The selected financial institution will be required to build a new portfolio of SME loans, leasing or guarantees commensurate to the involvement of the participating ENSI partner institutions. The financial institution shall also provide information on the securitised portfolio and on any of the agreed additional lending to the participating ENSI partner institutions.

How to apply?

If you are eligible according to the criteria outlined above, you can contact Bpifrance or the EIF (or any other of the ENSI Partner Institutions above) for support in a SME securitisation transaction that corresponds to the guidelines of the ENSI indicative term sheet.
Bpifrance, the EIF or any other ENSI partner institution will explore potential joint support measures to provide you with a solution that fits your funding and/or capital needs. Each participating ENSI partner institution will contribute either by investing in a tranche or by providing a guarantee, according to their specific mandate and ‘risk appetite’.

Contacts
Click on the preferred point of contact below to send an email or call

Bpifrance: Richard Graive - operations.structurees@bpifrance.fr
Tel: +33141799334
EIF: George Passaris, g.passaris@eif.org
Tel: +352248581478 or
Pablo Sánchez, p.sanchez.gonzalez@eif.org
Tel: +352248581656