By Vinod Kothari & Sikha Bansal (resolve@vinodkothari.com) Present-day businesses sweep across multiple entities, such that the “enterprise” consisting of multiple entities, often in multiple jurisdictions, is referred to as a “group”. While accounting standards and securities market regulators have moved on to the concept of “business groups”, the ghost of the 19th century ruling in […]
By Falak Dutta, (finserv@vinodkothari.com) Yet another year went by and Indian securitization market certainly had a year to rejoice. Starting from the volume of transactions to innovative structures, the market has everything to boast about. Before we discuss each of these at length, let us take stock of the highlights first:
Singapore: Monetary Authority of Singapore (MAS) Guidelines on Securitisation (The guidelines were finalized in 2000) Amendment in 2018 http://www.mas.gov.sg/~/media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Finance%20Companies/Notices/MAS%20Notice%20832%20%20Amendment%20%202018.pdf Amendment in 2007 http://www.mas.gov.sg/~/media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Commercial%20Banks/Regulations%20Guidance%20and%20Licensing/Notices/MAS%20Notice%20628%20(2007).pdf News on Securitisation http://vinodkothari.com/2013/11/sing/ Rules on Securitisation http://vinodkothari.com/seclawsg/ USA: 15 U.S. Code § 78o–11. Credit risk retention: https://www.law.cornell.edu/uscode/text/15/78o-11 Dodd-Frank Wall Street Reform and Consumer Protection Act [Public Law 111–203] [As Amended Through P.L. […]
By Team IFRS & Valuation Services (ifrs@vinodkothari.com) (finserv@vinodkothari.com) Introduction Direct assignment (DA) is a very popular way of achieving liquidity needs of an entity. With the motives of achieving off- balance sheet treatment accompanied by low cost of raising funds, financial sector entities enter into securitisation and direct assignment transactions involving sale of their loan […]
By Vinod Kothari & Sikha Bansal (resolve@vinodkothari.com) Present-day businesses sweep across multiple entities, such that the “enterprise” consisting of multiple entities, often in multiple jurisdictions, is referred to as a “group”. While accounting standards and securities market regulators have moved on to the concept of “business groups”, the ghost of the 19th century ruling in […]
By Falak Dutta, (finserv@vinodkothari.com) Yet another year went by and Indian securitization market certainly had a year to rejoice. Starting from the volume of transactions to innovative structures, the market has everything to boast about. Before we discuss each of these at length, let us take stock of the highlights first:
Singapore: Monetary Authority of Singapore (MAS) Guidelines on Securitisation (The guidelines were finalized in 2000) Amendment in 2018 http://www.mas.gov.sg/~/media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Finance%20Companies/Notices/MAS%20Notice%20832%20%20Amendment%20%202018.pdf Amendment in 2007 http://www.mas.gov.sg/~/media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Commercial%20Banks/Regulations%20Guidance%20and%20Licensing/Notices/MAS%20Notice%20628%20(2007).pdf News on Securitisation http://vinodkothari.com/2013/11/sing/ Rules on Securitisation http://vinodkothari.com/seclawsg/ USA: 15 U.S. Code § 78o–11. Credit risk retention: https://www.law.cornell.edu/uscode/text/15/78o-11 Dodd-Frank Wall Street Reform and Consumer Protection Act [Public Law 111–203] [As Amended Through P.L. […]