The Commercial Real Estate Finance Council in Japan plans to revive CMBS by implementing new market standards.

The Tokyo-based council, whose members include Deutsche Bank and Mitsubishi UFJ Trust & Banking Corp., will concentrate on improving CMBS's disclosure, documentation and structure, said Tokio Ueyama, head of CRE at Deutsche Bank in Japan who is also co-chair of the industry group, according to a Bloomberg report. The standard is expected to be completed as early as the end of the year.

The new standard is expected to incorporate better documentation that outlines a clear process for firms that recover loan principals and interests in the case of CMBS defaults, according to the report.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.