The revival of French securitisation: a study of the 2008 reform

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Abstract:

The French securitisation regime was reformed in 2008. The goal of this reform was to make French securitisation more flexible. One of the most important measures introduced by the 2008 reform includes allowing regular companies to be used as securitisation vehicles. Furthermore, the reform allows originators to use any assignment mechanism they want to assign the receivables, lifts restrictions on the entities that can act as management company or custodian, and reinforces the insolvency remoteness of securitisation transactions. Finally, it introduces the possibility to securitise insurance risks under French law.

Document Type: Research Article

Publication date: May 1, 2009

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  • Law and Financial Markets Review is a new, independent, English language journal devoted to providing high quality information, comment and analysis for lawyers specialising in banking and financial market issues and to others with interests in legal and regulatory developments affecting the financial markets. Published bi-monthly LFMR contains articles written by leading experts providing a forum for practical guidance on, as well as reflective and topical analysis of, all major jurisdictions, with a particular focus on the interaction between the law and market practice and behaviour.
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