BCBS and IOSCO issue criteria for identifying simple, transparent and comparable short-term securitisations

May 14th, 2018

The Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) today issued the Criteria for identifying simple, transparent and comparable short-term securitisations (the short-term STC criteria), which are available on the BCBS and IOSCO websites.

The short-term STC criteria aim to assist the financial industry in its development of simple, transparent and comparable short-term securitisations. The criteria maintain and build on the principles in the Criteria for identifying simple, transparent and comparable securitisations issued by BCBS-IOSCO in July 2015. The criteria published today take account of the characteristics of asset-backed commercial paper (ABCP) conduits, such as (i) the short maturity of the commercial paper issued, (ii) the different forms of programme structures and (iii) the existence of multiple forms of liquidity and credit support facilities.

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