Regulatory Alerts2011-03-25
Order PRE/627/2011 of 22 March establishing requirements for Asset Securitization Fund Promotion Agreements to Favor Business Financing
The Spanish Ministry of the Presidency issued Order PRE/627/2011 to update the regulatory framework for state-guaranteed asset securitization funds aimed at improving financing for small and medium-sized enterprises (SMEs). The order establishes the procedures for applying for guarantees, defines the composition and evaluation criteria of the Assessment Commission, and sets financial conditions including credit rating requirements and potential guarantee commissions. It also repeals the previous Order PRE/3/2007 and incorporates amendments from recent budget laws that allow for open funds and relaxed reinvestment restrictions to support economic recovery.
Share