Securitisation Standing Group (SSG)

Related information

Securitisation Standing Group meeting minutes
SSG minutes

Prudential Sourcebook for Banks, Building Societies and Investment Firms
BIPRU 9

Significant risk transfer notifications and waivers information
SRT

High cost credit protection transactions
Correspondence

Related external information

• British Bankers Association
• London Investment Banking Association
• International Swaps and Derivatives Association, Inc.
• The European Securitisation Forum
  

Purpose

The SSG is the primary mechanism for

• Discussing practical industry-wide BIPRU implementation issues, including those arising due to the CRD text, e.g. ambiguity, gaps and any unforeseen consequences
• Developing a common understanding of those issues between FSA and industry
• Reaching a common view on how such issues could be tackled in a pragmatic way within the context of more principles based regulation
• Pre-consulting on any resulting changes to BIPRU and FSA implementation
• Identifying and discussing any market practice, developments and trends

Background

• The SSG was originally set up as a pre-consultation forum to help the FSA develop its securitisation policy in respect of the CRD and to discuss securitisation issues arising.
• With the translation of the CRD into BIPRU the focus of the group has changed towards the discussion of implementation. However minutes of earlier meetings are still available

Remit

The remit of the standing group is FSA Handbook policy relating to securitisation, including:

• the Standardised Approach to securitisation;
• the Internal Ratings Based Approach to securitisation;
• Pillar 2 Securitisation issues
• Pillar 3 requirements for securitisation
• Regulatory reporting for securitisation

General Credit Risk and Credit Risk Mitigation issues are to be discussed within separate Standing Groups.

To raise an issue for discussion at the SSG, please contact one of the trade association representatives.