While securitization may serve useful economic purposes having nothing to do with regulatory arbitrage, a properly structured securitization conduit can assist the sponsoring bank in lowering its effective regulatory capital requirement against a group of assets or other risk positions.
Although I must admit, having to follow up on a speech from President Higgins is a bit like having Thin Lizzy as your warm up act – A tough act to follow! I would especially like to welcome the members of the Lynott family that have joined us today.