On December 11, 2014, the Basel Committee and International Organization of Securities Commissions jointly published a consultative document on criteria to identify simple, transparent and comparable securitizations. Fourteen criteria have been identified for the development of such securitizations, aiming to assist involved parties in evaluating the risks of certain securitizations when carrying out due diligence. The proposed criteria relate to key types of risk in the securitization process: (i) asset risk; (ii) structural risk; and (iii) fiduciary and servicer risk. The consultation closes on February 13, 2015.
The consultation document is available at: