Introduction to securitisation
Securitisation, a complex structured financing, has evolved as the funding and risk transfer method of choice over the past few years. It is promoted by the European Commission as one instrument of choice in the context of the Capital Market Union. Despite the general economic downturn, and decreased reputation of securitisation products, the Luxembourg securitisation market continues to grow steadily. In addition, Luxembourg securitisation vehicles are used in many structures in Asset Management, Private Equity or Real Estate in order to optimize the investors benefits.
In this type of structured financing, a pool of financial assets (such as receivables, loans, mortgages, or leases) is transferred to a "special purpose vehicle" (SPV) that then issues securities, backed solely by the assets transferred and the payments derived from those assets.
It is therefore critical for Luxembourg corporate services, domiciliation companies, asset managers, private bankers and other service providers to understand the complete value chain of the securitisation business and to appreciate the opportunities and challenges it offers in a European context.
20 October 2020 (ENG) - Webinar format - 9am-12pm
1 June 2021 (ENG) - 9am-12pm
Price: 400.00 €
Duration: 3h
Language: English, also available in French
Number of participants: max. 20
Objectives
By the end of this course, participants will be able to:
- Explain the complete securitisation value chain;
- Get an overview of the Luxembourg securitisation market with examples;
- Appreciate the business opportunities for Luxembourg financial institutions;
- Define the impacts on regulatory, accounting and tax questions.
Content
1. Introduction and basic principles of securitization in general
- European market overview;
- Key terms and concepts.
2. Securitisation in Luxembourg
- Main regulatory frameworks;
- Luxembourg market overview;
- Luxembourg Securitisation Law;
- Forms of Luxembourg securitisation vehicles;
- Regulation of securitisation vehicles;
- Multi-compartment vehicle.
Target audience
- Domiciliation companies and trustees
- Professionals of the financial sector involved in the management and/or administration of structured finance products
- Tax and regulatory representatives
- Private bankers.
Our lead experts
Holger von Keutz is an audit partner with 18 years of experience in the assurance and assurance related services of PwC Luxembourg, Société coopérative. He is specialised in the audit of banks, securitisation structures and investment funds. Furthermore, he has developed strong expertise in IFRS, Lux GAAP and HGB accounting frameworks.
Within the area of internal and external trainings in relation with his specialisation, Holger has long experience and is strongly involved in the design and development of our learning solutions. In addition, he is lecturer at Trier University of Applied Sciences for auditing and consolidation for more than 13 years now.
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