25 February 2009 – Several key UK and European banks and mortgage lenders and leading ratings agencies have approved a set of  guiding securitisation principles, the Residential Mortgage-Backed Securities (RMBS) Issuer Principles  for Transparency and Disclosure, designed to govern reporting standards and improve transparency in the securitisation industry. Leading international law firm Mayer Brown has been counsel advising the European Securitisation Forum (ESF) on the formulation of these principles for RMBS. 

The ESF, which is part of the global Securities Industry and Financial Markets Association, has issued the RMBS principles as part of a global effort to restart the securitisation markets. The principles are an integral part of a series of initiatives the industry has undertaken in response to the European Commission and global regulators. The principles will affect the way RMBS are marketed and will improve the information available to investors and regulators.

Partner Elana Hahn led the Mayer Brown team advising the ESF, with associates Miles Bake and Gina Hartnett.

Elana Hahn, Mayer Brown partner, said:
“The securitisation sector is one of our core business areas and with a global network of lawyers specialising in this industry we were perfectly placed to provide the European Securitisation Forum with the right advice. These principles are crucial for improving the transparency of the securitisation market and kick starting the residential mortgage-backed securitisation sector.”

The Principles are available by clicking here.

For further information:

Charlotte Ward
PR Manager, London
+44 20 3130 8547

Elana Hahn
Partner, London
+44 20 3130 3262