Public Consultation - Draft General Notice On Securitisation Schemes

1. The Bank of Namibia (the Bank) invites interested parties and the general public to make comments on the draft General Notice on Securitisation Schemes (the Notice). The Bank has drafted, for the issuance by the Minister of Finance, a general notice that will apply to all banks, non-bank entities and Special Purpose Entities (SPEs) that will be trading in securitisation transactions in Namibia. The purpose of the Notice to provide regulatory guidance to entities to ensure prudence in the conduct of securitisation transaction
    
2. Securitisation is a process by which relatively standardised loans are pooled and sold to an SPE that issues marketable/tradable debt securities or instruments against the pooled assets, to raise funding. The objective is to increase the liquidity of loans, diversify the sources of funding and to reduce the originating bank’s capital requirements subject to certain conditions.
    
3. Kindly make your written submission on the draft general notice for securitisation schemes by or before 31 January 2017 on the Bank’s website at  www.bon.com.na or if confidentiality is required, comments can be e-mailed to emma.haiyambo@bon.com.na. Further queries pertaining to the subject matter can be directed to Ms. Emma Haiyambo, Director: Strategic Communications & Financial Sector Development on telephone number 061 - 283 5114.
   
   Issued By: Iipumbu Shiimi, Governor
   
   Click here to download the The Draft General Notice On Securitisation Schemes