Financial Regulatory Committee held first meeting of this year on 23th Jan, 2016 where discussed 13 issues. In particularly, meeting discussed the principles of “General rules of the securities settlement process” of the securities settlement regulations. According to the article 43 of Securities law, trade settlement has to be with clearing and clearing confirmation, send payment instructions to the clearing institutions and manage the risk of payments within the system where allows the governing the general relations between the parties of the settlement which agreed with all participating members as supporting principle.
During the meeting, permission granted to “TOSK rent one” and “MIC Mortgage asset eight” companies to issue asset-backed securities and therefore “TOSK rent a” LLC company as rental backed securities, “MIC Mortgage assets eight” LLC, value of 100,000 / one hundred thousand tugrug/ of issuing price, up to 20 years of life cycle, a total of 1,898,404 / one million eight hundred ninety eight thousand four hundred/ guaranteed securities fourth volumes of mortgage loans credited as asset backed securities. According to “resolution of Ulaanbaatar city general plan of development until 2020” and “in approach to the development agenda in the 2030 documents” until 2016 every year as a 1000 house rental accommodation , 2000 rental house planned to be built as a rental housing each year from 2017 to 2020 and commissioned and supported from the Mongolian state. According to FRC press department “TOSK lease has issued a” company’s property / rental / license secured bond.