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JTC welcomes positive Ireland Special Purpose Vehicles (SPV) report

Ireland 14th Sep 2023
JTC in Ireland has welcomed the latest report from the Irish Debt Securities Association (IDSA) on Special Purpose Vehicles (SPVs).

JTC’s Ireland offices encompass Fund Administration, AIFM, Depositary and Corporate Services, and has extensive experience in supporting SPVs.

According to IDSA’s figures, Ireland is the leading European jurisdiction for the establishment and servicing of SPVs, securitisation structures and debt securities. There are more than 3,300 SPVs in Ireland with over €1 trillion in assets.

IDSA commissioned Indecon International Consultants to compile an assessment of the economic and cross-sectoral impacts of the SPV sector in Ireland

The report highlighted:

  • Irish SPVs are central to several sectors in the financial services ecosystem and / or a key driver of the Irish economy which supports an estimated 56,000 jobs in Ireland
  • SPVs enable credit institutions and non-bank lenders to lend to enterprises, homeowners, and customers – a key focus of the EU Capital Markets Union
  • The growing SPV sector supports 5,530 jobs across the Irish economy and has a positive economy wide impact of €468 million

Mohammad Zia, Director – Fund & Corporate Services, commented on the report:

“We welcome the assessment commissioned by the Irish Debt Securities Association and the insights that it provides on a sector of financial services that is often misunderstood.”

He continues, “The contribution the SPV sector continues to provide numerous benefits to the Irish economy and we are proud to play our part as JTC in Ireland.”

The SPV sector is central to the Irish financial services industry and a large contributor to the knowledge economy in the jurisdiction, providing highly skilled employment opportunities and enabling lending to enterprises and homeowners.

 

To find out more about SPVs or JTC’s Corporate Services, please get in touch with Mohammad directly.

To access the full report, please click the following link to the IDSA website.

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