Basel report exposes lack of SPE understanding
A report on special-purpose entities (SPEs) published by the Joint Forum – a panel consisting of the Basel Committee on Banking Supervision, the International Organisation of Securities Commissions and the International Association of Insurance Supervisors – blames poor risk management and lack of understanding of the risks inherent in SPEs for any failures associated with the structures, and recommends eight core principles to improve market practices.
While acknowledging measures from other
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