PIB 4.14.6
In order to qualify for using the
(a) a comprehensive understanding of the risk characteristics of its individual securitisation Exposures , whether on balance sheet or off balance sheet, as well as the risk characteristics of the pools underlying securitisation Exposures ;
(b) ability to access the performance information on the underlying pools on an on-going basis in a timely manner; and
(c) a thorough understanding of all structural features of a securitisation transaction that would materially impact the performance of the Authorised Firm's Exposure to the transaction, such as waterfall triggers, Credit Enhancements , liquidity enhancements, market value triggers and deal specific definitions of default.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]