A document that the JFSA published which responsed to the many of the comments they received on their initital draft....
Japanese Risk Retention: JFSA Favors Diligence Over Disruption. This helpful memo written by Dechert discussed the bottom line for US CLOs...
Exemptive conditions of Japanese risk-retention rules are credit positive for US CLOs. You will need to create a profile....
This document is a translation of the relevent comments...
Related FAQs on capital charges relating to investments in securitizations....
The English language version is available to download...
The Japanese language version of the comment letter is available to download...
This comment letter was submitted to the Japanese Financial Services Agency on its recent proposal that would impose significantly higher capital charges on Japanese investors who purchase interests in certain securitizations that are not risk retention compliant....
This memo breaks down the proposed risk retention regulations published by the Japanese FSA on December 31, 2018....
This a small but relevant portion of the Japanese FSA’s recent proposal on securitization that relates to risk retention....

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