‘Securitisation law requires update to match Ireland’
Luxembourg’s securitisation community is up in arms over watching competitor Ireland retain its role of EU leader in financial vehicle corporations and in series, despite optimism just last year over this country’s still-shiny securitisation law updated last year. The Irish implementation included provisions giving companies tax minimisation options that they can’t yet get under Luxembourg law.
Green securitisation struggles to find foothold
Green securitisation is struggling to find a foothold, it became clear at a recent LuxCMA conference. With no regulation or framework defining what “green securitisation” is or can be, Luxembourg-based advocates are looking at international practices and evaluating how European financial legislation can be adapted.
Luxembourg plays to win in musical chairs dance for CLOs
Hopes are high in Luxembourg that the Grand Duchy this year will be able to claim a sizeable chunk of a growing European market for Collateralised Loan Obligations (CLOs), a structured financial product pooling corporate debts. With an update in its securitisation regime that allows active management Luxembourg wants to be competitive and seduce CLO managers from other countries, notably Ireland, to move their business.