ASF OTC Submission
14 April 2014

The ASF has lodged its position in relation to the Australian Treasury Proposals Paper G4-IRD central clearing mandate – February 2014 the industry’s desire to obtain certainty that securitisation swaps will be exempted from a clearing mandate. Without this, securitisation swaps will face margin and collateral requirements that they cannot meet due to their current structure and ratings requirements.

ASF Responds to Moody’s RfC on Set-Off Risk
21 March 2014

The Australian market was caught by surprise in February by Moody's Request for Comment on its assertion that material risk exists in relation to set-off rights where collateral has been securitised. A working group lead by Allen & Overy, Clayton Utz and King & Wood Mallesons researched the topic and drafted a robust and considered submission.

ASF Research Award
As announced at the 2013 ASF Securitisation Conference, the ASF wishes to encourage and recognise thought leadership that contributes to the development of our industry. The research can be on securitisation generally, or conventional securitisation or covered bonds.

Full details and the application form can be found here:

ASF Comment Letter - Credit Risk Retention
8 January 2014

The ASF has submitted a comment letter to the US regulators relating to the re-proposed rules for credit risk retention for securitisations issued to US investors. Our letter seeks to highlight differences between US and Australian residential mortgage underwriting practices and the potential negative impact the US credit retention rules may have on Australian RMBS issuers. Click here to read the letter. Please contact Chris Dalton if you wish to discuss this matter.

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