Delhi HC: Woman's Right to a Shared Household Does Not Allow Indefinite Occupation of In-Laws' Home  ||  Delhi HC: Director Disputes in a Company Do Not Qualify as Genuine Hardship to Delay ITR Filing  ||  Delhi HC: ECI Cannot Resolve Internal Disputes of Unrecognised Parties; Civil Court Must Decide  ||  Bombay High Court: Senior Citizens Act Cannot be Misused to Summarily Evict a Son  ||  Chhattisgarh HC: Service Tax Refund Can't Be Denied on Limitation When Payment Was Made During Probe  ||  Supreme Court: If Tribunal Ends Case For Unpaid Fees, Parties Must Seek Recall Before Using S.14(2)  ||  SC: Article 226 Writs Jurisdiction Cannot be Used to Challenge Economic or Fiscal Reforms  ||  Supreme Court: Hostile Witness Testimony Can't Be Discarded; Consistent Parts Remain Valid  ||  Supreme Court: GPF Nomination in Favour of a Parent Becomes Invalid Once the Employee Marries  ||  Supreme Court: Candidate Not Disqualified if Core Subject Studied Without Exact Degree Title    

RBI releases the Report of the Committee on the Development of Housing Finance Securitisation Market- (Reserve Bank of India) (09 Sep 2019)

MANU/RPRL/0165/2019

Banking

The Reserve Bank of India had constituted a Committee on the Development of Housing Finance Securitisation Market, on May 29, 2019, with Dr. Harsh Vardhan, Senior Advisor, Bain & Co. as the Chairperson. The Committee was set up in recognition of the role of well-functioning securitisation markets for better management of credit and liquidity risks in the balance-sheets of banks as well as non-bank mortgage originators. The Terms of Reference of the Committee were to review the existing state of mortgage securitisation market in India and make recommendations to address various issues relating to originators/investors as well as market microstructure.

The Committee has since submitted its report to the Governor. The key recommendations of the Committee, guided by the broad perspective of enhancing efficiency and transparency of securitisation transactions, are setting up of a government sponsored intermediary, through the National Housing Bank, to enable market making and standard setting; developing standards for loan origination, loan servicing, loan documentation, and loans to be eligible for securitisation, including standardised formats for data collection and aggregation.

Separation of regulatory guidelines for direct assignment transactions and transactions involving pass through certificates as well as for mortgage backed securities (MBS) and asset backed securities (ABS). Regulatory norms for minimum holding period (MHP) and minimum retention requirement (MRR) for MBS are relaxed. Amendments and/or clarifications for registration and stamp duty requirements and tax guidelines to reduce the transaction costs for securitisation as also to encourage investments in pass-through-securities.

Tags : REPORT   RELEASE   HOUSING FINANCE   SECURITISATION MARKET  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved