{"id":8385,"date":"2026-06-08T15:22:17","date_gmt":"2026-06-08T13:22:17","guid":{"rendered":"https:\/\/www.tsi-kompakt.de\/?p=8385"},"modified":"2026-07-09T17:56:37","modified_gmt":"2026-07-09T15:56:37","slug":"luxembourg-advances-the-modernisation-of-its-financial-centre","status":"publish","type":"post","link":"https:\/\/www.tsi-kompakt.de\/en\/2026\/06\/luxembourg-advances-the-modernisation-of-its-financial-centre\/","title":{"rendered":"Luxembourg advances the modernisation of its financial centre"},"content":{"rendered":"<p>Luxembourg overtakes Brussels in modernising its securitisation framework at its domestic financial centre. A modern financial centre must fundamentally adapt to changing conditions. In an environment of increasingly restrictive banking regulation and higher capital costs, asset-backed and more capital-structure-driven financing is gaining importance. To accommodate these more complex transaction structures, Luxembourg aims to further modernise its securitisation framework and, in doing so, its financial centre.<\/p>\n<h3>Luxembourg forges ahead with securitisation in major strides<\/h3>\n<p>On 8 June 2026, Bill No. 8761 was submitted to the Luxembourg Parliament to once again revise the existing Securitisation Act of 2004, following its 2022 amendment. The Bill seeks to continuously evolve Luxembourg\u2019s securitisation framework. Its goal is to align the legal framework with current market practices, enhancing flexibility and legal certainty in structuring securitisation transactions.<\/p>\n<h3>Key aspects of the Bill<\/h3>\n<p>The proposal primarily addresses the following aspects:<\/p>\n<ul>\n<li>Financing opportunities: Securitisation undertakings will be permitted to use all forms of external financing, not just financial instruments or loans. However, public offerings will remain limited to the issuance of financial instruments.<\/li>\n<li>Active management: The scope will be expanded to cover all types of securitised assets (including equity instruments), provided they are not publicly offered.<\/li>\n<li>Cross-compartment investments: Compartments may invest in other compartments of the same securitisation undertaking.<\/li>\n<li>Security and guarantees: Securitisation undertakings may encumber its assets or grant guarantees for their own obligations or third-party obligations related to the transaction.<\/li>\n<\/ul>\n<h3>Conclusion<\/h3>\n<p>The draft law represents a targeted modernisation of Luxembourg\u2019s securitisation framework, rather than a fundamental redesign. The changes offer greater flexibility and legal certainty, potentially facilitating the use of Luxembourg securitisation vehicles in complex financing structures. While Brussels progresses cautiously in modernising the European securitisation framework, Luxembourg is clearly pulling ahead.<\/p>\n<p><a class=\"tsi-link\" href=\"https:\/\/www.true-sale-international.de\/fileadmin\/tsi-gmbh\/tsi_downloads\/aktuelles\/20260608_Depot.pdf\">Bill of Law No. 8761 (available only in French)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Luxembourg overtakes Brussels in modernising its securitisation framework at its domestic financial centre. A modern financial centre must fundamentally adapt to changing conditions. In an environment of increasingly restrictive banking regulation and higher capital costs, asset-backed and more capital-structure-driven financing is gaining importance. To accommodate these more complex transaction structures, Luxembourg aims to further modernise<\/p>\n<div class=\"read-more\">\n<div class=\"more-dotted-line\"><\/div>\n<p><a class=\"moretag\" href=\"https:\/\/www.tsi-kompakt.de\/en\/2026\/06\/luxembourg-advances-the-modernisation-of-its-financial-centre\/\">Read More<\/a><\/div>\n","protected":false},"author":19,"featured_media":8384,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[847],"tags":[1428,1426,1429,1427],"class_list":["post-8385","post","type-post","status-publish","format-standard","has-post-thumbnail","category-regulatory-update-en-2","tag-cross-compartment-investments","tag-luxembourg-as-a-financial-center","tag-luxembourg-securitisation-framework","tag-luxembourg-securitization-framework","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Luxembourg advances the modernisation of its financial centre - TSI kompakt<\/title>\n<meta name=\"description\" content=\"Luxembourg overtakes Brussels in modernising its securitisation framework at its domestic financial centre. A modern financial centre must fundamentally adapt to changing conditions. In an environment of increasingly restrictive banking regulation and higher capital costs, asset-backed and more capital-structure-driven financing is gaining importance. 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In an environment of increasingly restrictive banking regulation and higher capital costs, asset-backed and more capital-structure-driven financing is gaining importance. 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