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Тогтмол өгөөжтэй: Улирал тутмын купоны төлбөр авах боломжтой
Хөрөнгө оруулалтын эрсдэлээс хамгаалагдсан: Зээлийн багц дахь чанаргүй зээл үргэлж 0%-тай байх ба Үнэт цаасны купон, эргэн төлөлтийн тасалдлаас төлбөрийн шатлалын схем болон эрсдэлийн сангийн хөрөнгөөр хамгаалсан.
Хөрвөх чадвар сайн: Богино хугацааны хөрөнгө оруулалтын өгөөж өндөр бөгөөд хямдруулсан үнээр арилжих нөхцөлд худалдсан болон худалдан авсан аль аль талдаа хангалттай өндөр өгөөжийн хувьтай байгаа нь бирж дээр хөрвөх чадвараар өрсөлдөх боломжийг бий болгоно.
Санхүүжилтийн шинэ суваг: Банк, санхүүгийн байгууллагуудад хөрөнгийн зах зээлээр дамжуулан санхүүжилт татарх шинэ суваг болж байна.
Татвар 5%: Хувьцааны ногдол ашгийн өгөөж, нээлттэй бонд, ХБҮЦ-ны хүүгийн орлогын татвар 5% байдаг.
Guaranteed securities
• Only special purpose companies will be allowed
• The Special Purpose vehicle will be an LLC in form and will be established each time a security is issued.
• Special Purpose Companies may be established by banks, non-bank financial institutions, housing finance companies, and other organizations approved by the Commission.
• The asset is removed from the seller's balance sheet and the claims and income related to the asset are transferred to the financial statements and balance sheet of the special purpose vehicle.
Collateralized securities
• Issued by banks, non-bank financial institutions, and housing finance companies
• A housing finance company is an LLC established in accordance with the procedures specified in the Law on Companies and licensed by the Commission to issue asset-backed securities.
• Separately recorded in the issuer's financial statements and balance sheets
• Founder (Bank, HFC, NBFI, etc.)
• Securities Issuer (Special Purpose Compnay)
• Fiduciary asset manager
• Transaction executor
• Primary obligor
• Service provider
• Third-party service providers (legal, audit, underwriting)
• Securities issuer (Bank, HFC)
• Controller of the registration of collateralized securities portfolio
• To manage the assets of the SPV in alignment with and for the protection of the investors’ best interests.
• To remit the payment for the securities
• To prepare and deliver the necessary reports and disclosures to investors.
• To keep the financial statements and accounting records related to the asset pool of the securities separate from those of the primary obligor, the originator, the seller, as well as from its own accounting records.
• To prepare accounting reports, maintain accounting records in compliance with IFRS, prepare the necessary entries and documentation, and submit them to the relevant parties.
• To timely prepare and complete tax documentation, submit the relevant calculations and supporting documents to the Securities Issuer, and ensure the payment of all required taxes.
• To carry out the duties of the Secretary to the Board of Directors and to arrange and administer meetings of the Board.
• To provide company secretarial services, prepare all corporate and legal documents, and deliver other administrative services of the company.
• To communicate with the banks providing services, obtain their reports and information, consolidate and monitor such information, and perform research and analysis on issues related to the assets
• To facilitate the audit of the SPV’s financial reports and ensure proper preparation for the audit.
• The compliance of the SPV’s incorporation and its registration as a legal entity with the relevant legislation, and the validity of its certificates and licenses.
• The compliance of the decision to issue the asset-backed securities with the relevant legislation.
• The compliance of the SPV’s charter and the procedures governing its principal activities with the relevant legislation
• The compliance of the agreements and transactions concluded with the parties participating in the issuance of the guaranteed securities — including the primary obligor and the seller — such as asset transfer, sale and purchase, service, and fiduciary asset management agreements, with the relevant legislation, and whether any such agreements may have adverse implications for the operations
• The existence of any conflict of interest between the ABS issuer and the fiduciary asset manager or other involved parties
• Whether the assets selected through random sampling from each category of assets within the asset pool satisfy the legal criteria set by the securities issuer.
• The compliance of the agreements and transactions relating to the enforcement of obligations from the asset pool with the relevant legislation, and whether these agreements include provisions that obligate the non-transfer or non-exercise of any rights of claim connected to the performance of the obligations, or that prohibit or restrict the transfer of such rights.
