A speech by Greg Tanzer, Commissioner, Australian Securities and Investments Commission to the Australian Securitisation Forum, Sydney, 12 November 2013.
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Introduction
I would like to take this opportunity to outline:
- some thoughts on the importance of securitisation markets
- developments in securitisation regulation, and ASIC’s work in this area from an international perspective
- some recent developments in over-the-counter (OTC) derivatives regulation, and
- ASIC’s work to support debt and securitisation markets.
Why securitisation markets are important
Globally, securitisation has traditionally been an important market-based source of finance. Before the global financial crisis (GFC), it was generally acknowledged as playing an important role in funding activity in the real economy.
Six years on from the events which led to the GFC, there is a lot to be said for supporting the emergence of sustainable orderly securitisation markets – markets which can, in turn, support economic growth.