Last December the Basel Committee proposed a new capital framework for securitizations – Basel Committee’s consultative document, “Revisions to the Basel Securitization Framework” (BCBS236) – that could have a significant impact on credit portfolio managers’ ability to use securitizations as risk and portfolio management tools.
On March 15, 2013, the IACPM submitted a comment letter to the Basel Committee on the proposed securitization framework in order to protect portfolio managers’ ability to use these tools. In this letter the IACPM supports the views presented by the Institute of International Finance (IIF) and the Global Financial Markets Association (GFMA) in their irrespective letters in regard to BCBS236 and related papers.IACPMresponsetoBCBSsecuritization15Mar13
Basel Revisions to the Securitization Framework
Status: Outstanding. Discussions are ongoing with the Basel Committee.