The Basel Committee on Banking Supervision and the International Organization of Securities Commissions (IOSCO) released final criteria for identifying simple, transparent and comparable securitisations. The purpose of these criteria is to assist in the financial industry's development of simple, transparent and comparable securitisation structures. However, the criteria do not serve as a substitute for investors' due diligence, they only apply to term securitisations, and are non-exhaustive and non-binding (additional and/or more detailed criteria may be necessary based on specific needs and applications).