Germany's true-sale legislation finally received its seal of approval last week, as legislators unexpectedly passed the new refinance register for German true sale ahead of the summer parliamentary break. The new law is expected to come into effect Tuesday.

"There were some concerns that the legislation would be delayed until after the elections [this year]," said TSI's Business Manager, Hartmut Bechtold. "We are quite happy that we got it at the time we did, it was the last law parliament passed before the summer break. A change in government could have delayed implementation of this law."

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