Synthetic balance sheet securitisations do play a significant role in banks capital management. Especially in the context of the challenges of financing the huge investments required for the digital and sustainable transition, the European Economy will require bank based lending to support the growth.
The European synthetic SRT market has been growing significantly over the past three years and doubled in size, but will this be sufficient? How do synthetic securitisations function, how is it structured, who does invest and how do you achieve capital relief?
We invite all interested parties to join us for this training format in the well established, small classroom format training of TSI EVENTS.
Agenda
Wednesday, 12.03.2025
Registration
Welcome by TSI and introduction
Jan-Peter Hülbert
Legal Overview
Kerstin Schaepersmann & Antonia Walter, Clifford Chance
- Why do it synthetically?
- Common structures
- Documentation clauses and credit events
Issuer Perspective
N.N.
- Capital Management and economic reasoning for synthetic securitisation
- Strategic approach and synthetic securitisation programmes
- Challenges for setting up a transaction
Coffee break
Basel IV / Capital Management / Basel / Output Floor
Christoph Himmelmann, PWC
- Basel IV - What's new for securitisations?
- Understanding the mechanics of the Output Floor
- Impact on RWA calculation and capital management
Arranger / Investors Perspective
Holger Beyer, Alantra
- Involvement in the structuring process and legal documentation
- Preferences in terms of structures and pools
Lunch Break
Regulatory aspects
Ulf Kreppel, Jones Day
- How to achieve capital relief
- SRT versus full deduction
Role of STS in Synthetic Securitisation
Marco Pause, SVI
- STS framework in synthetics
- Verification process
- Challenges to achieve STS
Coffee break
Transparency & Disclosure
Andras Vajda, iconicchain
- Setting up internal reportings
- Reporting form investors, auditors, supervisors
Extra-comfort for the investor: the Verification Agent
Philipp von Websky, Deloitte
- monitoring over the lifetime of the transaction.
- assets treated like own vs. like third party risk position.
- pitfalls and typical findings.
Get Together
Holger has advised on the re-structuring, work-out, and disposal of distressed positions, both structured and corporate, acting for central banks in the Eurosystem and the administrators of various banks in the aftermath of the GFC. Holger has experience in the setting up of asset management structures to invest in financial assets and provided portfolio funding and risk capital to non-bank lending platforms.
With more than 20 years of product experience, Mr. Kreppel has extensive expertise in the structuring and execution of structured finance transactions. This includes public and private securitizations, asset-based lending and covered bond transactions, structured as stand-alone term transactions as well as asset-backed notes programs. Mr. Kreppel advises on a variety of asset classes, such as auto loans and leases, consumer credits, trade receivables and real estate loans. He also acts as program counsel for several European-based asset-backed commercial paper programs.
Mr. Kreppel has advised on a number of innovative and market-first transactions, including the purely blockchain-based issuance and settlement of asset-backed commercial paper. In addition, he regularly advises on regulatory aspects in financing transactions, e.g. on so-called "simple, transparent and standardized" (STS) securitizations as well as questions regarding the European Securitization Regulation. Mr. Kreppel has coauthored several articles on the legal risks and structural solutions for securitizations.
In his position as Senior Manager he was primarily responsible for the execution of numerous due diligences at German automotive and consumer banks as well as banks with mortgage portfolios in the context of securitisation and portfolio transactions. In the context of a multi-year project Mr. Pause directed the organisation and implementation of the project management of a state guarantee for a German Landesbank in connection with credit and solvency checks of individual exposures in the Shipping, Corporate Clients and Aviation segments.
Mr. Pause holds a degree in Business Administration from the Georg-August-University in Göttingen.