This morning, the Basel Committee on Banking Supervision (“BCBS”) and International Organization of Securities Commissions (“IOSCO”) released their final criteria for simple, transparent and comparable (“STC”) securitisations.

The criteria are intended to be applied to term securitisations and assist in the financial industry’s development of STC structures.

According to the press release, they are not meant to substitute for investor due diligence and are non-exhaustive and non-binding. BCBS and IOSCO note that “The criteria are not, of themselves, a prescription for regulatory action.”

The BCBS and IOSCO initially proposed a framework for STC securitisations in December 2014.

In the final version published today, BCBS and IOSCO “have amended certain aspects of the proposed criteria that were considered overly prescriptive, and have clarified other issues where respondents raised doubts about their interpretation or implementation.”

Click here for the release.

Rodney O'Rourke

Rodney shares insights from his 20 years’ experience working in the legal and accounting industries with both Irish and international companies. As Managing Director at Cafico International, Rodney regularly works with international companies in the technology, pharma, aviation and insurance industries that are seeking to establish operations in Ireland, assisting them with the management of their projects, and compliance with their fiscal and legal responsibilities.

To learn how Cafico International can help your business expand to Ireland, get in touch with Rodney today.