Draft Glossary on Securitisation Terms Working Party on Financial Statistics 24-25 October 2011 By Michèle Chavoix-Mannato STD Directorate, NAD Division, QNA&FS Section

Draft Glossary on Securitisation Terms Securitisation was discussed at WPFS meetings since 2006, and was the subject of the Workshop on Securitisation, organised in May 2010, in Madrid, with the Bank of Spain *********. Because of the variety of terms and definitions used in the area of securitisation, and a potential confusion It has been recognised the necessity to have a glossary of the most commonly used terms in the field of securitisation STD / NAD / QNA&FS

Draft Glossary on Securitisation Terms The OECD has been asked: to undertake an assessment of terms and definitions found in documents prepared for the various meetings in national and international guides and standards to prepare a draft glossary of terms and definitions STD / NAD / QNA&FS

Draft Glossary on Securitisation Terms As a first tangible step, the OECD secretariat has selected a number of relevant terms related to securitisation has drafted a dictionary which presents terms by alphabetical order several definitions for each term (with their source) has included the list of the references of all sources used STD / NAD / QNA&FS

Draft Glossary on Securitisation Terms As a second step, the OECD secretariat proposes the creation of a small group of experts to agree on a single definition for each term ~~~~~~~~ the group should be composed of at least one native English speaker the group would work via electronic discussions STD / NAD / QNA&FS

Draft Glossary on Securitisation Terms At a third step, the OECD Secretariat might organise a physical meeting to finalise the result of this collective work - - - - - - - - the final glossary will be made available on the Clearspace tool STD / NAD / QNA&FS

Draft Glossary on Securitisation Terms Experts are invited to volunteer preferably during the meeting, so that the list is known when establishing the conclusions at the end of the meeting or after the meeting, by end of November at the latest STD / NAD / QNA&FS

Draft Glossary on Securitisation Terms Thank you very much for your cooperation and future contribution STD / NAD / QNA&FS