About the Summit

Indian securitisation markets continue to traverse new territories, even as challenges on asset quality in certain sectors posed headwinds. The new co-lending regime is slowly sinking in, and lenders are now looking at securitisation, bilateral loan transfers and co-lending with their relatively distinctive economics. The new Financial Services Directions, whereby banks and banking group NBFCs need to have rationalised product allocation, may push bank investments in securitisation of assets originated by the group entities, rather than parallel originations or portfolio purchases.

After a strong push for bank originations in the last fiscal, this year has seen slower activity with banks, but the continuously high loan-to-deposit ratio, and mixed evidences of household savings either dropping or getting financialised, may motivate banks to look at capital markets as the way to refinance strong loan demand.

As SEBI regulations on listed securitised debt instruments became effective, the market for privately placed listed SDIs with limited retail investor participation is getting tested. But the fact that there is a strong potential for non-financial issuers coming with securitised paper with innovative cashflow streams, was evidenced with the mega-sized issuance by a major industrial house. This is what explains the theme of this year’s Summit – bridging of markets. Securitisation helps to bridge real and financial sectors, banks and non-banking entities, cashflows and capital markets, risks and returns, aspirations and reality.

The Securitisation Summit is clearly a blocked day on the calendar of every stakeholder in the structured finance business – issuers, investors, investment bankers, placement agencies, consultants, rating agencies, counsels, accountants, and more. Like every year, this year too, we expect fullest support from all regulators too, so that the discussions are taken to policy level too.

Tentative Agenda for 14^th Securitisation Summit