In December, the Basel Committee for Banking Supervision, together with the Board of the International Organization of Securities Commissioners, published a consultative document on “Criteria for identifying simple, transparent and comparable securitisations,” requesting comments by 13 February 2015. This follows a consultation by the European Banking Authority on “simple standard and transparent securitisations” and, during 2014, among other developments, the publication by the Bank of England and the European Central Bank of a discussion paper setting out draft principles for “qualifying securitisations” and the adoption by the European Commission of delegated regulations providing relatively favorable treatment of securitisations meeting certain criteria for purposes of the Basel III liquidity coverage ratio as in effect in the European Union and for purposes of insurance company capital requirements. All of these developments leave us with the question of what are all these criteria for qualifying securitisations, and what might they mean for the future of the product?
Please join us as Mayer Brown partners Kevin Hawken, Carol Hitselberger and Jason Kravitt discuss these developments and offer possible answers to the questions these developments have raised.
Mayer Brown’s Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm’s global resources from multiple practices and offices, the initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.