Special Purpose Entities
(SPEs) resident in the EU maintained their strong role in FDI, accounting for 48.7 percent of the total EU FDI stocks held abroad and for 59.7 percent of the FDI stocks held by the rest of the world in the EU.
The ambiguous provisions require the Central Bank of Cyprus' approval for any securitisation and give the bank supervisor the right to veto such a transaction, Moody's said adding that the central bank's powers were "unusual" compared to what is the case elsewhere in Europe, as they allow it to initiate the liquidation of securitisation special purpose entities
, appoint a liquidator or block a voluntary liquidation.
Recently published data from the Central Bank of Cyprus (CBC) indicates that external sector statistics are materially distorted by special purpose entities
(SPEs), including shipping and financial companies.
said the central bank has amended its regulations to establish a separate single borrower's limit (SBL) to entities created as vehicles to implement major projects or Special Purpose Entities
The BSP explained that the eased lending rules will apply to 'special purpose entities
' created as vehicles to implement major projects.
The regulating rules to create special purpose entities
collecting assets to issue debts will allow the CMA to approve and license these special purpose entities
in order to stimulate the debt issuance activity.
He will also serve DMS as an independent director on the boards of structured finance vehicles, other special purpose entities
and hedge funds.
Power generation company Blue Earth (NasdaqCM:BBLU) disclosed on Thursday that it has signed a Letter of Intent (LOI) to acquire all of the membership interests in six separate Special Purpose Entities
Global will manage the portfolio of investments transferred to asset special purpose entities
consequent to the transaction on a fiduciary basis at arm's length commercial terms.
The law states that all real estate activity linked in any way to the release of Islamic bonds would be exempt from taxation, and that all transfer of real estate between the beneficiaries and other parties would be recorded, in addition to the release or extension of Islamic bonds, or the devolution of assets to special purpose entities
after the recovery of bonds.
"The rating considers the secured position of the series C notes, which benefit from a second lien on substantially all US assets of CIT that are not otherwise pledged to secure the borrowings of special purpose entities
and the equity of foreign subsidiaries.