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ARTICLE · 15 JUNE 2015

Spain Passes New Securitization Act

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Until the approval of Act 5/2015, the regulation of securitization vehicles in Spain was dispersed across various regulations at different levels.

SpainFinance and Banking
Andrés Lorrio
Andrés Lorrio
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On April 27, 2015, the Promotion of Business Financing Act (Ley de Fomento de la Financiación Empresarial, "Act 5/2015") was passed in Spain, introducing, inter alia, a new simplified and consolidated regime for securitization transactions.

Act 5/2015 in its Title III integrates previously separate regulations of securitization vehicles, aligning the regulatory treatment of these instruments with those in place in other European jurisdictions, removing restrictions that hampered the Spanish securitization market, and allowing a higher degree of flexibility and innovation in securitization schemes.

Title III introduces the following provisions:

Consolidation of Legal Regime of Securitizations

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