Autor: Firma True Sale International

The contribution of securitisations to financing the digital and sustainable transition in Germany and Europe has been discussed intensively in recent months. The same applies to the extensive regulation with the EU Securitization Regulation in force since January 1, 2019 and its numerous technical regulatory standards and guidelines.

But how does a securitisation actually work from a legal perspective, and how is it implemented in the sales prospectus, contracts and legal opinions of a specific transaction? We would like to get to the bottom of these questions in the new TSI training „Legal & Documentation in Securitisations“.

Concrete transactions and their documentation will be analyzed with the following focus:

• Overview of the various legal documents
• From a first term sheet to the Black OC: Structuring process
• Preparation and coordination process of the legal documentation with all transaction parties
• Requirements for the special purpose vehicle – from jurisdiction to creation to liquidation
• Case study: Offering circular and legal opinion of an Auto ABS transaction
• Legal and structural particularities of leasing receivables
• Legal opinions and contracts for trade receivables; international private law
• Documentation for synthetic balance sheet securitisations

This TSI training with a very high practical relevance is aimed at all market participants who deal with the preparation, documentation review and analysis of securitization transactions in their operational business. The practical relevance arises for corporates and financial institutions as originators, arranging banks, rating agencies, investors and other service providers involved. Previous legal education of participants is not required.

Eventdatum: Donnerstag, 22. Februar 2024 08:45 – 17:45

Eventort: Frankfurt am Main

Der deutsche Verbriefungsmarkt war immer ein Musterbeispiel für einfache, transparente und standardisierte ABS-Transaktionen, die sich in Performance und Qualität von ihren Ursprüngen über die Finanzkrise hinweg bis heute gut bewährt haben.

Unsere umfassenden und regelmäßigen ABS-Trainings haben in den letzten dreizehn Jahren dazu beigetragen, dass sich bei allen beteiligten Parteien ein einheitliches Qualitätsverständnis herausbildet, was unter den neuen Verbriefungsregeln noch an Bedeutung gewinnt.

Mit unserem zweitägigen Intensivseminar in die Verbriefungswelt bekommen Sie einen hervorragenden Zugang zu den relevanten Themen aus rechtlicher, bilanzieller, regulatorischer, wirtschaftlicher und praktischer sowie kreditprozessbezogener Sicht.

Im Einzelnen geht es um folgende Themenschwerpunkte:

• Überblick über eine konkrete, aktuelle Verbriefungstransaktion
• Worauf kommt es beim Kreditprozess an, was verlangt die STS-Regulierung
• Rechtliche Fragen – Abtretung, Insolvenzabschirmung, steuerliche Fragen und wo kommt
  dabei STS ins Spiel
• EZB-Zulassung im Überblick
• Regulatorische Rahmenbedingungen nach der neuen Verbriefungsregulierung
• Bilanzierungsfragen
• Arbeit der Ratingagenturen
• Cash Flow Modellierung und Transaktionsbewertung
• Wohnhypothekenverbriefung (RMBS)
• Die Investorensicht

Eventdatum: 24.01.24 – 25.01.24

Eventort: Frankfurt am Main

Prime Auto ABS and Prime RMBS have always been a showcase example of simple, transparent and standardised ABS transactions that have been very effective in performance and quality ever since their origins and through the financial crisis.

In the past ten years, our comprehensive and periodic ABS training events have contributed to creating a uniform understanding of quality among all parties involved – knowledge that will become even more important under the new securitisation rules.

Our two-day intensive seminar is a gateway into the world of securitisation that will give you excellent access to relevant themes from a legal, accounting, regulatory, economic and practical perspective, and from credit perspective from rating agencies and investors.
 

Training will focus on the following thematic focal areas:

• Overview of a specific, current securitisation transaction
• What matters in the credit process and what the STS regulation requires
• Legal aspects – assignment, insolvency protection, tax matters and how STS comes into play
• Overview of ECB approval
• Regulatory framework under the new Securitisation Regulation
• Accounting aspects
• The work of rating agencies
• Cash flow modelling and transaction evaluation
• Investors’ perspective

The thematic focal areas will be explored on the basis of a current transaction.

Eventdatum: 07.11.23 – 08.11.23

Eventort: Frankfurt am Main