A Study of the Implications of the European Securitisation Regulation 2017/2402 on Malta

Joseph Micallef, Simon Grima, Sharon Seychell, Ramona Rupeika-Apoga and Mark Lawrence Zammit
Additional contact information
Joseph Micallef: Faculty of Law, University of Malta, Msida MSD 2080, Malta
Simon Grima: Faculty of Economics, Management and Accountancy, University of Malta, Msida MSD 2080, Malta
Sharon Seychell: Faculty of Economics, Management and Accountancy, University of Malta, Msida MSD 2080, Malta
Ramona Rupeika-Apoga: Faculty of Business, Management and Economics, University of Latvia, LV-1586 Riga, Latvia
Mark Lawrence Zammit: Faculty of Economics, Management and Accountancy, University of Malta, Msida MSD 2080, Malta

Laws, 2020, vol. 9, issue 3, 1-26

Abstract: A decade ago, the financial world was taken by surprise, when prominent credit institutions filed for bankruptcy. The financial crisis phenomena spurred the need for regulating Securitisation and enhancing the capital requirements framework. In response, the Basel Committee initiated the regulatory treatment for the Simple Transparent and Comparable Securitisation (STC Securitisation), the USA passed the Dodd–Frank Act and the EU introduced Securitisation Regulation No. 2017/2402 to address the causes and failures, which were identified, following the aftermath of this financial crisis. With this article, we aim to analyse the main provisions of the Regulation No. 2017/2402 on Malta as a jurisdiction for securitisation and provide an insight on the prospective market development. To reach our aim we analysed scholarly documentation (academic chapters, journals, articles and monographs), rules, guidelines, recommendations, directives and regulations and use the case study methodology, as suggested by Yin (2003) and Yazan (2015), on Malta. In our opinion, recently, Malta has made significant improvements in the securitisation sector, mostly evidenced by the introduction of the legislation. All interviewees emphasised that Malta has substantial opportunities for further growth in the securitisation market and it is encouraged to be exploited well.

Keywords: Simple Transparent and Standard Securitisation (STS Securitisation); Capital Markets Union (CMU); Capital Requirement Regulation (CRR); Basel Securitisation Framework; net economic interest (search for similar items in EconPapers)
JEL-codes: D78 E61 E62 F13 F42 F68 K0 K1 K2 K3 K4 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2075-471X/9/3/20/pdf (application/pdf)
https://www.mdpi.com/2075-471X/9/3/20/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jlawss:v:9:y:2020:i:3:p:20-:d:415997

Access Statistics for this article

Laws is currently edited by Ms. Heather Liang

More articles in Laws from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().