PCS extends the PCS interim period to 11th September 2013 for PCS Label applications, please see pcsmarket.org/news

PCS extends the PCS interim period to 11th October, 2013 for PCS Label applications. Please see pcsmarket.org/news

The PCS Secretariat is pleased to announce that the first PCS label has been awarded for a securitisation with Italian assets. The transaction has Italian residential mortgage loans as its underlying assets.

PCS amends Checklist, Rule Book, and Eligibility Criteria – 8th October 2013 go to pcsmarket.org/the-label/downloads

PCS amends Eligibility Criteria, Rule Book and Checklist go to pcsmarket.org/the-label/downloads

Year-end 2014 PCS has labelled 83 transactions with a total transaction value of 127.7 bn euros

PCS has labelled 93 transactions with a total transaction value of 145 bn €uros

PCS launches a new label for risk transfer/synthetic securitisations

Today, PCS launches its new label to be awarded to risk transfer instruments that meet all the criteria devised by the PCS Association to identify the key elements for a simple, transparent and standardised instrument. This is the first new label from PCS since the creation of its original PCS True Sale Label in 2012. PCS hopes that its new label will, once again, help support the market by assisting both protection buyers and investors through standardisation and added transparency. It also hopes to contribute to a debate that may end in a new, better regulatory regime for this key […]

PCS RISK TRANSFER PROCEDURES MANUAL (link to the pdf of the manual) This document sets out the procedures laid down by Prime Collateralised Securities (PCS) UK Limited (the “PCS Secretariat”) for the award of a PCS Risk Transfer Label and which an entity applying for the Risk Transfer Label (the “Applicant”) will be required to follow. The PCS Secretariat shall use all reasonable efforts to follow these procedures but reserves the right to depart from them as it deems reasonable. These procedures are not binding on the PCS Secretariat. The PCS Risk Transfer Label is not a recommendation to buy, […]

Risk Transfer Securitisation Eligibility Criteria

LIGIBILITY CRITERIA For full definitions of the capitalised terms in this section, please consult the Glossary in the Schedule. 1. Common Eligibility Criteria To obtain a PCS label the following criteria need be met by all securitisations: (a) Balance Sheet Asset (i) In the case of a regulated bank or insurance company, the Underlying Assets must be at or before the Specified Date on the regulatory balance sheet of the Protection Buyer or one of its affiliates; (ii) In the case of any other type of Protection Buyer, the Underlying Assets must be owned by the Protection Buyer or a […]

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