The American Securitization Forum (ASF) has announced approval of its first market standard, a monthly investor report template for multi-seller conduits. The standard is designed to boost investors’ ability to compare data from different sources and to improve information access. While adoption of ASF-approved market standards and practices are voluntary for ASF members and non-members, the ASF hopes that these recommended best practices will be widely adopted. ‘This standard’s adoption should have beneficial effects on the ABCP market, including improved comparability of monthly reports, increased transparency, and better liquidity,’ said Vernon Wright, Chairman of the ASF and Chief Financial Officer of MBNA Corporation. Currently, investors receive monthly reports from sponsors and administrators of different ABCP Conduit programs, each of which follows a different format and provides different information. Because of the format disparities, it has been difficult for investors to compare and analyse these reports. If the standardized report format is adopted, investors should be able to use the monthly data more effectively.
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