Securitisation is a financial structured product consisted of various structural features and
counterparties enacted in a transnational framework. For the presentation of securitization
under the Greek legal order this paper follows the transactions of the securitization product
firstly in the transnational field, then in the European area and finally it examines the legal
requirements under Greek legislative provisions. In order to comprehend the securitization
transaction in practice, an introduction of the main structural mechanisms (traditional and
synthetic), the relevant assets used, the main components and the execution cycle of the
transaction is performed. Proceeding with an overview of implementation practices of
securitization and the way in which they affected and how they became accountable for the
2007 financial crisis, the basis of understanding future legal reformation is presented.
Following the above, the main regulatory reform in the European Union after the financial
crisis is mentioned and the Securitisation Regulation (EU 2042/2017) is cited in respect of
rectifications introduced to prevent previous pitfalls. Lastly the Greek Securitisation Law (Law
n.3156/2003) is presented, the structural mechanism, the transaction provisions, the
counterparties involved and examined under the new European legal framework and in
connection with other legislative instruments, the prospectus obligation, the General Data
protection Regulation and the Greek Non Performing Law (Law N. 4354/2015).
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