Reserve Bank Of India
Date : Sep 09, 2019
RBI releases the Report of the Committee on the Development of Housing Finance Securitisation Market
The Reserve Bank of India had constituted a Committee on the Development of Housing Finance Securitisation Market, on May 29, 2019, with Dr. Harsh Vardhan, Senior Advisor, Bain & Co. as the Chairperson. The Committee was set up in recognition of the role of well-functioning securitisation markets for better management of credit and liquidity risks in the balance-sheets of banks as well as non-bank mortgage originators. The Terms of Reference of the Committee were to review the existing state of mortgage securitisation market in India and make recommendations to address various issues relating to originators/investors as well as market microstructure.
The Committee has since submitted its report to the Governor. The key recommendations of the Committee, guided by the broad perspective of enhancing efficiency and transparency of securitisation transactions, are as follows:
The report is placed on the RBI website today for comments of stakeholders and members of the public. Comments on the report may be sent by September 30, 2019 through email.
Chief General Manager
Press Release: 2019-2020/651