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ARTICLE · 19 JULY 2017

BCBS And IOSCO Propose Criteria To Identify Short-Term Securitizations

Hogan Lovells Cadwalader
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The Basel Committee on Banking Supervision ("BCBS") and IOSCO proposed criteria for identifying "simple, transparent, and comparable" ("STC") short-term securitizations.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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The Basel Committee on Banking Supervision ("BCBS") and IOSCO proposed criteria for identifying "simple, transparent, and comparable" ("STC") short-term securitizations. 

The published report highlighted criteria to "assist the financial industry in the development of STC structures." In the report, BCBS and IOSCO noted that previously issued STC criteria could not properly be applied to short-term securitizations, particularly those issuing commercial paper through an asset-backed commercial paper ("ABCP") conduit.

The report contains 17 STC criteria for short-term securitizations related to ABCP conduits. The criteria include guidance on due diligence and evaluatory requirements in the following areas:

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