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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Archive
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER34/12-19]
PIB 4 Credit Risk
PIB 4 Part 3 — CRDOM
PIB 4.14 Securitisation
Implicit Support
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices

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  • Implicit Support

    • PIB 4.14.15

      An OriginatorG or a SponsorG of a securitisation must not provide Implicit Support to a securitisation transaction with a view to reducing potential or actual losses to investors outside of its contractual obligations;

      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]

    • PIB 4.14.16

      If an OriginatorG fails to comply with PIB Rule 4.14.15 in respect of a securitisation, it:

      (a) must include all the underlying ExposuresG of the securitisation in its calculation of Credit RWAsG as if those ExposuresG had not been Securitised and were on the balance sheet of the Authorised FirmG ;
      (b) must not recognise any gain-on-sale of assets to the securitisation; and,
      (c) must disclose to investors that the Authorised FirmG has provided non contractual support and the regulatory capital impact of doing so.
      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]