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Securitization bill in works
STAFF WRITER
Tuesday, Jun 04, 2002, Page 18
The Legislative Yuan's finance committee yesterday passed the first reading of a draft bill to allow the securitization of financial assets.
The draft bill, forwarded to the legislature for screening by the Ministry of Finance, is aimed at finding new avenues for financial institutions to raise funds and to strengthen asset and liability management, said Gary Tseng (´¿°ê¯P), the ministry's director general of Bureau of Monetary Affairs.
The draft bill will allow both special purpose companies and special purpose trustees to sell repackaged financial assets including banks' collateral of auto, home and other loans, hoping that will increase cash flow by issuing stocks to potential investors, Tseng said.
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