Entire Section

  • PIB 4.14.7 PIB 4.14.7

    Where an Authorised Firm is either an Originator or a Sponsor of a Traditional Securitisation or a Synthetic Securitisation:

    (a) the Authorised Firm intending to conduct the securitisation must notify the DFSA at least 30 days in advance of the proposed execution of the securitisation;
    (b) the Authorised Firm conducting the securitisation must calculate its Credit RWAs for all resultant Exposures from that securitisation, in accordance with PIB section 4.8, provided the requirements of this section are met; and
    (c) the Authorised Firm conducting the securitisation must produce documentation reflecting the execution and economic substance of the transaction.
    Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]

    • PIB 4.14.7 Guidance

      The notification made to the DFSA under (a) should include, inter alia, amounts of assets subject to securitisation, amounts retained, details of securitisation including legal structure, rating, tranches, details of legal transfer and any Credit Risk mitigation applied and implications on the capital and liquidity position on the Authorised Firm.

      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]