There are a number of initiatives in various countries, some ongoing and others already in force, that seek to increase transparency of securitisation. This is encapsulated in the IOSCO report on Global Developments in Securitisation Regulation.
2 In relation to standardisation of information, the report proposes that IOSCO members encourage industry to develop best practice templates and encourage industry bodies to work with their counterparts in other jurisdictions to ensure harmonised treatment. The announcement by the Bank today is consistent with the objectives contained in the IOSCO report, and is supported by ASIC.