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Home > Statistics > Explanatory Notes -Monetary financial institutions' securitisation activities and issuance of securities by SPVs
 

Explanatory Notes -Monetary financial institutions' securitisation activities and issuance of securities by SPVs

Overview

 
Table B1.5 presents data on MFI loans that are securitised or ring-fenced for covered bond programmes (broken down by sector of borrower), and MFI holdings of securities issued by own SPVs. Table B1.6 presents data on securities issued by UK MFI-owned SPVs.
 

Availability


All data are available monthly from January 2010. The data are not seasonally adjusted.
Publication of data will usually occur on the 21st working day following the end of the period in Tables B1.5 and B1.6 in Bankstats (Monetary and Financial Statistics) or subject to the published Statistical release calendar. The data presented in these tables cover only securitisation SPVs that are owned by UK MFIs, and do not cover all SPVs resident in the UK.

Sources


Data on loans securitised or ring-fenced for covered bond issuances are reported on Form BT and a further breakdown by sector of the borrower is reported on Form BE.
MFIs holdings of securities issued by own SPVs is also reported on Form BT.
Issuance of securities is reported on Form BT as a memo item.
All data are subject to revision if and when new information becomes available. For more information on revisions practices see the Explanatory Notes on revisions.

Definitions


Securitisation Special Purpose Vehicle (SPV) mean any undertaking which (a) is organised to carry out one or more securitisation transactions; and (b) issues, or may issue, securities and/or which holds, or may hold, assets underlying the issue of securities that are offered for sale to the public, sold on the basis of private placements, or held by the institution that originated the underlying assets.

Valuation and Breaks


Changes to data may not equal the difference in amounts outstanding because changes include adjustments, such as those made to exclude the effects of exchange rate movements and changes in the reporting population. For further information on this, please see the Explanatory Notes on changes.

Issuance of securities by  SPVs is reported at nominal values whereas the MFI holdings of securities issued by own SPVs is reported at market value.

Key Resources

 

SPV and LLP lists are published every quarter. 
 

'Publication of information on UK MFI securitisations', Broughton, E and Shah, A (2011), Bank of England Bankstats (Monetary and Financial Statistics) May

 

'Statistical reporting of securitisations', Owladi, J (2010), Bank of England Bankstats (Monetary and Financial Statistics), February

 

'Impact of securitisations and loan transfer activity on M4 lending', Hall, L (2004), Bank of England Bankstats (Monetary and Financial Statistics), November, pages 7-8

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