BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For guidance, see...
This Practice Note considers the UK taxation treatment of securitisation companies that fall within the scope of the permanent securitisation regime. It explains: • what...
This year’s annual round-up reviews some of the most significant developments of 2017 and previews what is on the horizon for 2018. This includes the Prospectus...
What is a CDO? Core concepts Collateralised debt obligations (CDO) are complex, high-value transactions involving numerous parties, extensive documentation and, usually,...
BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For guidance, see...
What is a CPPI transaction? 'CPPI' stands for constant proportion portfolio insurance, and refers to a form of investment strategy. 'Constant proportion' refers to the...
Role The role of credit rating agents (CRAs) is to provide an objective and analytical opinion on the risk of payment defaults by looking at various factors that help...
Management of issuer risk In structured finance transactions (including securitisations), a special purpose vehicle (an SPV, also referred to as the Issuer) will be...
Ratings outlooks and watch-lists The three main credit rating agents (CRAs), Moody's Investors, Standard & Poor's (S&P) and Fitch Ratings, periodically review ratings....
A legal opinion is a formal opinion expressing a view on legal matters relevant to a transaction. As described further below, legal opinions will typically cover a number...
This Practice Note sets out certain key cases and associated analysis relevant to structured products and securitisation practitioners. The cases are divided by topic...
BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For guidance, see...
BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For guidance, see...
BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For guidance, see...
This Practice Note: • explains what a whole business securitisation is—a whole business securitisation may also be referred to as an operating asset securitisation •...