The bar was raised in terms of Taiwanese deal execution last March, with First Commercial Bank completing the country's first MBS via Deutsche Bank Securities. While local regulators could be described as cautious' in approving new transactions, Deutsche Bank consequently had to devote many hours to educating and selling regulators on the workings of MBS structures, in addition to serving the needs of its client.

The end result was a NT$4.28 billion ($134.5 million) transaction that conformed to the best international standards, while meeting its client objectives of efficient pricing, increased liquidity and diversification of its investor base.

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