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About the Summit
The Securitisation Summit is the annual coming together of stakeholders in structured finance industry in India. Starting 2012, the Summit was a much-awaited annual feature, year on year. In 2020, the chain was broken, for reasons which do not need elucidiation.
The Summit has developed into a definitive and widely-participated rendezvous of the structured finance fraternity having interest in Indian securitisation. The claim to achievement of the Summit is not only the wide participation from all stakeholders, but the fact that every year, we pick up points for advocacy and we take the same up with the relevant regulators, policy-makers or other concerned persons, so as to resolve/achieve what is desired. The resolution of the distribution tax issue, withholding taxes on payment to SPVs as well as permission to FIIs for investing in securitisation transactions were picked up during previous summits, and we achieved effective results.
Over the past couple of years, the NBFC sector had to rely on securitisation and direct assignments as key source of funding, owing to the liquidity crisis. COVID 19 affected the financial system at least as much as common life; yet, securitisation transactions reported a volume of INR 89000 crores. The FY 2021-22 has also had a very promising start with INR 17,500 crores in the first quarter. In the meantime, new developments like covered bonds have been surfacing.
The market is clearly coming out of the bounds of priority-sector lending, as is clear from emergence of non-traditional asset classes, and also emergence of non-traditional investors.
To add to the importance of the 9th Summit, the RBI issued Master Directions on Securitisation and Transfer of Loans in September 2021, repealing the 15 year old framework. With new directions in place, securitisation is all set to scale the next level of development. To be a part of this exciting journey, we invite you all to join us at the Summit. You are sure to meet the who’s-who of the Indian structured finance space – the originators, investors, rating agencies, legal counsels, accounting experts, global experts, and of course, regulators.
Agenda
The detailed agenda can be viewed from this link: https://vinodkothari.com/2021/11/agenda-9th-securitisation-summit-november-18-2021-hotel-four-seasons-mumbai/
Speakers
Detailed profile of speakers can be viewed at this link: https://vinodkothari.com/2021/11/profile-of-speakers-9th-securitisation-summit-november-18-2021-hotel-four-seasons-mumbai/
9th Indian Securitisation Awards, 2021
As the securitization market in India is on an upswing, it is time to recognize performance, innovation and service. Awards are not merely a sense of accomplishment – awards are to encourage players to move to better services and consistent performance. The awards will be given by the Indian Securitisation Foundation at the 9 th Securitisation Summit 2021 on November 18, 2021 at Four Seasons Hotel, Mumbai and may be handed over to the awardees during the Securitisation Summit.
We are currently inviting nominations for the awards. All the nominations will be screened by eminent jury members. Further details of the awards can be accessed at this link.
Over the years, the Securitisation Summit organised by Indian Securitisation Foundation and Vinod Kothari Consultants has become the most noted event of the structured finance industry in the region. Not only do we provide an excellent platform for networking and collective thinking on topical issues, we pick up points for advocacy, policy making and furtherance of interest of the industry, and then act on the same.
Indian securitisation market which has long been driven by priority sector lending now seems to be emerging with new asset classes, new investors, and of course, new motivations for both issuers and investors. It is apparent that the market is searching for new economic drivers.
Given the excellent response and feedback received in the past 7 editions of our annual Securitisation Summit, we are having our 8th Securitisation Summit on Friday, 10 May 2019 in Mumbai.
We have also announced the 3rd edition of the Indian Securitisation Awards.
[Draft] Agenda
Session 1: The Year in Retrospect
- 2019 – What a year! Was direct assignment/ securitisation the existential choice in 2019?
- The NBFC liquidity (and solvency?) strain and the direct assignment window – will direct assignments provide bankruptcy-remoteness to banks.
- What was the flavour of the season globally?
- Moving out of the PSL barrier – is the market finally searching its right economic motivator, or does it still remain PSL – dominated?
- Securitisation for small players –minimum deal sizes coming down to enable small originators
Session 2: Traditional and innovative asset classes and structures
- Traditional asset classes
- Is the market ready to lap up new, non-PSL transactions?
- Credit enhancers and first/mezzanine loss providers have come up – is the market ready to look at third party enhancements?
- Green securitisation – are the prospects looking good
- Market innovation – are we seeing new asset classes, new structures, new investors and new issuers?
- Traditional vs alternative asset classes – what is the way forward?
- Stamp duty issues and other legal snags for issuance of RMBS in India. Direct assignments vs Co-origination structures – the road ahead?
Session 3: Off balance sheet, gain-on-sale and capital relief
- With IFRS sinking in, the market seems to be comfortable with no off-balance sheet for PTCs. Is that the universal approach?
- Gain on sale booking in case of direct assignments – is it distorting the quality of reporting?
- With no off-balance-sheet, is capital relief still the same?
- The need for revamping RBI guidelines – the major areas where re-thinking is required
- Issues currently being faced by FPIs and mutual funds while investing in PTCs and recommend changes for opening the market for FPI investments in the industry
Session 4: Investor diversity
- Are mutual funds still the major investors in the emerging regime? Concerns and conviction for asset managers
- The entry of HNI investors – is there a sizeable interest?
- Banks as investors – moving beyond PSL assets
- The interest of insurance and employee benefit fund investors
We warmly invite you to participate in this significant event. For registration and details, please contact as per contacts below.
Details of our past year’s summit CLICK HERE
Alternatively, you can drop us a mail at summit@vinodkothari.com/ events@vinodkothari.com/ fintrain@vinodkothari.com.
We look forward to hearing from you soon. Thank you!
For further details of the event, please write to us at events@vinodkothari.com/ secsummit@vinodkothari.com/ fintrain@vinodkothari.com or get in touch with any of the following:
Abhirup Ghosh — abhirup@vinodkothari.com; +91 98745 77342
Swapnill Sharma — swapnill@vinodkothari.com; +91 70454 02315
Burhanuddin Dohadwala — burhan@vinodothari.com; +91 77382 90552
Manoj Kumar Tiwari — manoj@vinodkothari.com; +91 98207 32350
| The Summit shall also witness the third edition of the Indian Securitisation Awards. The Awards will be presented by the Indian Securitisation Foundation to acknowledge the contributions of originators, arrangers, law firms and trustees who are working to take the securitisation industry to new heights. Please note that we are currently inviting nominations for the various categories of awards, if you think that your organisation can fit into any of the categories, then please feel free to send your entry within 3rd May, 2019. Click here to view the brochure. |
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Glimpses from the Summit can be viewed here.
