ESF Releases RMBS Transparency Principles

February 23, 2009

The European Securitization Forum (ESF) released the RMBS Issuer Principles for Transparency and Disclosure last week. This set of voluntary guidelines for issuers of European RMBS is an integral part of the industry's initiatives to increase transparency in the securitization market as recommended by the ECOFIN, the European Commission, the Financial Stability Forum, the IOSCO and other bodies. The principles will apply to disclosure of information by issuers to investors and other market participants both pre-issuance and post-issuance on a regular reporting/ongoing basis. They will establish a standard of consistency, transparency and data accessibility to for investors, and will enhance comparability of reporting across Europe.

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