STS Verification International GmbH
Mainzer Landstraße 61
60329 Frankfurt am Main
Tel: +49 (0)69 8740 344-0
Fax: +49 (0)69 8740 344-99
Michael Osswald has been the Managing Director of STS Verification International GmbH since February 2019. Mr Osswald has extensive securitisation experience in the areas of ABS investments as well as the acquisition and structuring of Term ABS and ABCP transactions, which he gained from 1998 at Landesbank Baden-Württemberg and subsequently at ABN AMRO Bank as part of the European ABS team. In 2009, Mr Osswald moved to the asset-based lending/ship financing division at KfW IPEX-Bank and was most recently responsible for the sub-portfolios asset securitisation, infrastructure, aviation and shipping in Credit Risk Management at Erste Abwicklungsanstalt. Mr Osswald holds a degree in business administration from the Julius Maximilian University of Würzburg.
Tel: +49 (0)69 8740 344 10
E-mail: michael.osswald@ svi-gmbh.com
Mobil: +49 (0)151 426 076 40
STS Verification International GmbH (SVI) is a third party recognised by the Federal Financial Supervisory Authority (BaFin) as a Competent Authority pursuant to Article 29 of the Securitisation Regulation and § 44 of the German Banking Act (Kreditwesengesetz) to verify compliance with Articles 19 to 22 of the Securitisation Regulation (admission 7 March 2019 by BaFin). As such, it provides independent and objective third party verification services in the context of securitisation transactions. It is committed to the present regulation and to the principle of independence.
The scope of the approval includes the following asset classes for all countries of the European Union for the transaction type Term ABS:
SVI plans to include further asset classes such as RMBS, trade receivables, etc., in the verification process. It also plans to include the transaction type ABCP.
The object of SVI’s business activity is to conduct a neutral and objective review of the STS criteria for securitisation transactions as a third party in accordance with the Securitisation Regulation. The object of the company is strictly limited to this activity and all bodies of the company are required to comply with the Securitisation Regulation and all related legal acts. Due to the selected structure, there is a clear and unambiguous framework for SVI to act with integrity and independence - this is ensured in particular by an independent management and by the independent members of the company's Supervisory Board.
STS Verification International GmbH is a 100% subsidiary of True Sale International GmbH (TSI). SVI's mission as part of the TSI Group is to contribute to a well-developed, high-quality and sustainable securitisation market in Europe and to facilitate securitisation transactions for originators and investors. With its work, it intends to make a significant contribution to ensuring that best market practices are applied to STS securitisations for the approved asset classes and that they become established throughout Europe.
Legal and economic expertise and the many years of experience of the persons working at SVI and its outsourcing partners guarantee an efficient and transparent verification process.