Independent Research and Policy Advocacy

Estimating Loss Distribution for a Securitisation Transaction

In the latest edition of The Securitisation & Structured Finance Handbook 2018 (published by Capital Markets Intelligence) Vishal Saxena and Dilip Mohan from IFMR Capital have authored a chapter as part of the publication. The chapter discusses an approach to estimate the loss distribution for a loan portfolio. This loss distribution can be used to […]

What impacts the performance of a securitised Commercial Vehicle pool?

As a follow-up to our earlier post where we had talked about our first securitisation in the Commercial Vehicle (CV) Finance space, in this post we briefly provide an overview of the industry and discuss the key risk factors affecting the CV industry along with factors that impact the performance of a portfolio of CV loans.

Unanticipated consequences of Finance Bill provisions on securitisation

Over 2006-12, RBI and SEBI have created a strong and conducive regulatory environment for securitisation, listing of securitised debt instruments, and standards of transparency and reporting. Securitisation volumes have picked up and we recently witnessed the first listed transaction. In October 2011, the income tax authorities issued a claim on certain securitisation special purpose vehicles […]

Multi originator securitisation (MOSEC) in microfinance

Structured finance approach has provided microfinance institutions (MFIs) the access to diverse funding sources. During last fiscal year 2011-12, MFIs raised more than INR 20 billion through securitisation transactions.

Listing of Securitised Debt Instruments

In a move aimed at developing the secondary market for securitised debt instruments, SEBI has released a Listing Agreement for such instruments and directed the exchanges to do the needful to enable listing of securitised debt instruments.