Securitisation Disclosures and Compliance Under Basel II: Part I - A Risk-Based Approach to Economic Substance Over Legal Form

Journal of International Banking Law and Regulation, Vol. 20, No. 12, pp. 617-627, December 2005

11 Pages Posted: 23 Jun 2008

See all articles by Joseph Atangan Tanega

Joseph Atangan Tanega

University of Westminster, School of Law

Date Written: June 20, 2005

Abstract

The Securitisation Framework under Basel II represents a major challenge for participants in the securitisation industry. With hundreds of detailed requirements, exemption from any risk charge requires careful interpretation of the doctrine of economic substance over legal form. This article examines the meaning of this doctrine in light of the legal and equitable tradition, UK tax law and Mahonia (2004), and finds them wanting in practical guidance. The author offers a risk symemtric analysis of the doctrine as a novel and practical method for understanding the essence of the Securitisation Framework.

Keywords: Banking supervision, capital adequacy, risk, risk symmetry, securitisation, symmetry, tax

Suggested Citation

Tanega, Joseph Atangan, Securitisation Disclosures and Compliance Under Basel II: Part I - A Risk-Based Approach to Economic Substance Over Legal Form (June 20, 2005). Journal of International Banking Law and Regulation, Vol. 20, No. 12, pp. 617-627, December 2005, Available at SSRN: https://ssrn.com/abstract=1150221

Joseph Atangan Tanega (Contact Author)

University of Westminster, School of Law ( email )

4 Little Titchfield Street
London, W1W 7UW
United Kingdom

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