BCBS D332
Definition
BCBS D332 is a document published by the Basel Committee on Banking Supervision on July 2015 in the Credit Risk category.
Title
Criteria for identifying simple, transparent and comparable securitisations.
Abstract
The Basel Committee on Banking Supervision and the International Organization of Securities Commissions (IOSCO) today released final Criteria for identifying simple, transparent and comparable securitisations. The criteria are available on the websites of the Bank for International Settlements and IOSCO.
The purpose of these criteria is to assist in the financial industry's development of simple, transparent and comparable securitisation structures. They are not intended to serve as a substitute for investors' due diligence.
These criteria apply only to term securitisations and are non-exhaustive and non-binding. Additional and/or more detailed criteria may be necessary based on specific needs and applications.
Criteria promoting simplicity refer to the homogeneity of underlying assets with simple characteristics, and a transaction structure that is not overly complex.
Criteria on transparency provide investors with sufficient information on the underlying assets, the structure of the transaction and the parties involved in the transaction, thereby promoting a more thorough understanding of the risks involved. The form in which the information is available should not hinder transparency, but instead it should support investors in their assessment.
Criteria promoting comparability could assist investors in their understanding of such investments and enable more straightforward comparison between securitisation products within an asset class.
Document Profile
- Publication Date: July 2015
- Publication Type: Sound Practices
- Publication Status: Current
- Publication Category: Credit Risk
- Number of Pages: 16
- Keywords: STC, Credit Risk
See Also
Disclaimers
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The above regulatory document abstract is quoted verbatim in this Open Risk Manual entry and provided free of charge for the convenience of all internet users. There is no explicit or implicit endorsement of this web service by the Bank of International Settlements. The copyright of the included material rests with the original authors (Links to the original texts are duly provided).
