Argentina Securities Commission outlines mortgage securitisation framework and cites first closed-end mortgage lending fund approval

The Argentina Securities Commission (CNV) used a Moody’s Local roundtable on Argentina’s mortgage market and securitisations to set out its regulatory modernisation agenda and to flag the approval and placement of the country’s first closed-end investment fund designed to grant mortgage loans. CNV president Roberto E. Silva said the board has issued 100 regulations under the current administration, aimed at optimising the regulator’s functions, simplifying and shortening processes, strengthening transparency in financial markets and improving operational efficiency. He linked the closed-end fund initiative to expanding real-estate financing through capital markets and channelling private savings into the real economy. CNV financial trusts manager Silvina Dimateo presented the main guidelines of the Mortgage Financial Trusts Regime, with the discussion bringing together more than 40 market participants to examine mortgage-backed securitisation structures and macroeconomic conditions for market development.