Regulatory Alerts2014-12-26
Added · Updated
Communiqué on Asset-Backed and Mortgage-Backed Securities
The Capital Markets Board of Turkey issued this Communiqué to regulate the establishment, operation, and issuance of asset-backed and mortgage-backed securities. It mandates the creation of specific fiduciary funds, defines strict qualification requirements for founders, and enforces a 5% risk retention obligation for originators. The document further outlines detailed procedures for fund board composition, asset segregation, and credit rating requirements to ensure investor protection.
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