TSI Training

17 September 2024

TSI Training

SRT & Synthetic Securitisation – from a practical perspective

The event
17. September 2024

True Sale International GmbH
Mainzer Landstraße 61
60329 Frankfurt

Participation fee
595 EUR TSI Partner
795 EUR for all other participants

Participation fee early bird
535 EUR TSI Partner
715 EUR for all other participants

Synthetic balance sheet securitisations do play a significant role in banks capital management. Especially in the context of the challenges of financing the huge investments required for the digital and sustainable transition, the European Economy will require bank based lending to support the growth.

The European synthetic SRT market has been growing significantly over the past three years and doubled in size, but will this be sufficient? How do synthetic securitisations function, how is it structured, who does invest and how do you achieve capital relief?

We invite all interested parties to join us for this new training format in the well established, small classroom format training of TSI EVENTS.


8.45 – 9.00


9.00 – 9.15

Welcome by TSI and introduction
Jan-Peter Hülbert

9.15 – 10.15

Legal Overview

  • Why do it synthetically?  
  • Common structures 
  • Documentation clauses and credit events  
10.15 – 10.35

Coffee break

10.35 – 11.35

Issuer Perspective

  • Capital Management and economic reasoning for synthetic securitisation  
  • Strategic approach and synthetic securitisation programmes 
  • Challenges for setting up a transaction 
11.35– 12.35

Basel IV / Capital Management / Basel / Output Floor  

  • Involvement in the structuring process and legal documentation 
  • Preferences in terms of structures and pools 
12.35 – 14.05

Lunch Break

14.05 – 15.05

Arranger / Investors Perspective  

  • Involvement in the structuring process and legal documentation 
  • Preferences in terms of structures and pools 
15.05 - 16.05

Regulatory aspects  

  • How to achieve capital relief 
  • SRT versus full deduction 

Coffee break

16.20 – 17.05

Role of STS in Synthetic Securitisation  

  • STS framework in synthetics 
  • Verification process 
  • Challenges to achieve STS 
17.05 – 17.50

Transparency & Disclosure  

  • Setting up internal reportings 
  • Reporting form investors, auditors, supervisors 
from 17.50

Get Together

Dr Stefan Henkelmann
Partner, ICM
Allen Overy Shearman Sterling LLP
Stefan is an Attorney with broad expertise advising on German and international capital markets transactions. Stefan specialises in advising on securitisations and other structured finance transactions (covering true sale, secured loan and synthetic structures across a broad range of asset classes), NPL transactions and restructurings in the capital markets sector (including bond restructurings and restructurings of securitisations and related assets). Another focus of his practice is the advice on bond transactions including Pfandbriefe, covered bonds, structured notes, hybrid and corporate bonds.
Stefan has also broad experience in advising on all related regulatory and insolvency law matters. He is a lecturer for capital markets law at the Institute for Law and Finance of the Goethe University Frankfurt.



Do you have any questions about this event?

I would be happy to answer your questions!

Stella Dubielzig

Head of event management