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October 02, 2017

SARB issued Circular D4/2017 on matters related to securitization vehicles. This directive replaces Directive 1/2011, which is dated May 03, 2011. The purpose of this directive is to enhance monitoring of risks arising from securitization schemes by updating the reporting requirements in respect of issuer special purpose institutions (SPIs), as required by D1/2011.

The reporting requirements apply to issuer SPIs of traditional or synthetic securitization schemes that were authorized to issue commercial paper in terms of the current and prior securitization exemption notices. The date of implementation of the new reporting requirements shall be in respect of half-yearly periods ending December 31, 2017 onward. The template (BA 501) for half-yearly reporting has been provided in the Annexure to the Circular D4/2017.

 

Related Link: Circular D4/2017 (PDF)

Keywords: Middle East and Africa, Saudi Arabia, Securities, Securitization, SPIs, Reporting, SARB

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