Criterion A4: Consistency of Underwriting (Conduit Level)
Effective from Dec 28 2022 - Dec 31 2022
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| 18.112 | The sponsor should make representations and warranties to investors that: | |
| (1) | It has taken steps to verify that for the transactions in the conduit, any underlying credit claims and receivables have been subject to consistent underwriting standards, and explain how. | |
| (2) | When there are material changes to underwriting standards, it will receive from sellers disclosure about the timing and purpose of such changes. | |
| 18.113 | The sponsor should also inform investors of the material selection criteria applied when selecting sellers (including where they are not financial institutions). | |