Under the next Finance Bill outlined in last week's U.K. pre-budget report, U.K. domiciled securitization SPVs will be allowed to continue applying U.K. GAAP accounting standards to securitization SPVs. Researchers at Deutsche Bank Securities explained that under the international accounting standards -- IAS 39 -- the main standard dealing with derivatives and debt would have potentially compromised the bankruptcy remote nature of U.K. based SPVs by introducing tax liabilities.

 

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