|Securitisationstructures are typically legally remote from the entity in relation to which the risks and rewards of the structure are associated. Typically, a securitisation structure will include an issuing entity, funding entity, seller, mortgage trustee and often counterparties. The common principles as to whether an entity meets the definition of a financial institution should be applied to all entities within a securitisation structure. More specifically, the expectation would be that issuing entities are likely to be classified as investment entities on the basis of their activities, trusts should be considered in accordance with the guidance at AEIM 100800 and holding and funding entities will likely be treated as financial institutions in their own right. A securitisation vehicle that is a financial institution will need to consider if it has any financial accounts that may be reportable. For FATCA there is a specific treatment of certain limited securitisation vehicles established prior to 17 January 2013. Details can be found at.
Example of a securitisation programme.