Minimum retention requirement

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....ance with the provisions of this regulation. (2) The originator shall retain a minimum of ten per cent. of the book value of the debt or receivable being securitised: Provided that in cases where the scheduled maturity of any of the cash flows in the transaction is within twenty four months, the originator shall retain a minimum of five per cent. of the book value of the asset being sec....

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....e pari passu in remaining tranches sold to investors. (b) In case where more than five per cent of the book value of loans is being securitised: First loss facility, or equity tranche or any other tranche sold to investors, in any combination thereof. Explanation: ─ (1) It is clarified that first loss facility for this purpose shall not include overcollaterali....