As part of this support, Qatargas will be sponsoring QSPE
s monthly Distinguished Lecturer programme where internationally renowned experts come to Qatar to share their experiences.
Al-Sadah said: "QSPE
is very pleased to accept this sponsorship from Qatargas, which supports the ongoing programme between industry and QSPE
to realise Qatar's Vision 2030.
In other words, when loans held by QSPEs
went bad, regulators, investors, and creditors of financial institutions that held QSPE
-issued securities had little chance of finding out about it until it was too late.
Lenders often retain some control over the mortgages even after their sale to a QSPE
Securitization vehicles that art not QSPEs
are constrained by Fin 46 R.
6 million (October 31, 2008 - $4 million) through retained interests in the excess spread and cash collateral account of the QSPE
When a company transfers derivatives to a QSPE
trust but retains any interest that could be reasonably expected to benefit from a contributed derivative, the assets must continue to be recognized on the entity's balance sheet until all retained interests receiving the benefit of the derivatives have been sold.
The "safe-harbor" entity, known as a "Qualified Special Purpose Entity" or QSPE
, must meet requirements that effectively result in its serving merely as a "holding cell" for the financed assets and not as an actively operated company that would create creditor confusion as to its role.
The Bank securitizes personal loans through QSPEs
, as well as
We believe this would be the case because the prohibition against transferors entering into financial guarantees with SPEs [special-purpose entities] or BIHs [beneficial interest holders] would render as 'non-qualifying' the SPEs used in those securitizations, and because of the additional prohibitions on the types of assets a QSPE
the ability of the Company and the QSPE
to obtain additional funding for the purpose of funding the receivables generated by the Company, including limitations on the ability of the QSPE
to obtain financing through its commercial paper-based funding sources and its ability to maintain the current credit ratings of its securities;
The Company and the QSPE
are in compliance with all of their credit facility covenants.