South Africa's new securitization law should debut sometime this week, bypassing the usual banter and delay other countries have encountered in undertaking this feat. Sources attribute the swift success of these guidelines to their likeness to current securitization laws, as they were crafted in the image of the Australian and U.K. decrees.
But the package offers much more than expediency, say market participants, who attribute the quick acceptance to a solid set of preliminary amendments that needed very little changes. In fact, market participants say the 14 different institutions invited to comment made only slight suggestions relating to the clarity of certain clauses. The guidelines were put out for commentary in May.