Tsioura, Efthymia

2020-10-15T00:00:05Z

https://repository.ihu.edu.gr//xmlui/handle/11544/29685

Law

Securitization in Greek law: an analysis of goals, procedure and solutions to problems arising from various legislative requirements

Law

free

School of Economics, Business Administration and Legal Studies, LLM in Transnational and European Commercial Law, Banking Law, Arbitration/Mediation

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).

Papadopoulos, Thomas

ihu