The German government aims to further improve the framework conditions for Germany as a financial centre. The first steps towards strengthening this were already taken in 2023 with the Financing for the Future Act (I). The main reason for this is the considerable need for financing for the digital and green transition of the German economy.
Call for a German securitisation law
The BdB and TSI had the opportunity to submit a statement prior to the official draft report. A central aspect of this statement is the call for a German securitisation law, as exists in Luxembourg, Italy, Spain and France, for example, in order to solve specific problems with securitisations.
Eliminating existing legal uncertainties regarding securitisations in Germany
Due to a lack of specific regulations, the existing general laws do not contain all the necessary provisions to carry out securitisation transactions in Germany as legally securely and economically as possible. This concerns issues such as how the ‘true sale’ of assets is to be legally implemented and which tax or insolvency law regulations are to be applied.
Contributing to the financing of the digital and green transition
The BdB and TSI statement is particularly committed to ensuring that securitisation special purpose entities (SSPE) can be established in Germany, that cross-border legal and tax problems are eliminated and that securitisations are made easier and more attractive for SMEs, start-ups and leasing companies. This will secure jobs, strengthen Germany as a financial centre and contribute to financing the digital and green transition.