Sekurytyzacja jako forma finansowania jednostek samorządu terytorialnego

Abstract

This article presents a process of securitization, from a point of view of a local govern­ment, the initiator of the process. Securitization is a method oflocal governments units refinancing based on the use of assets. In Polish legal system there are basically two normative acts which provisions refers to the issue of securitization; the act on investment found and the Banking Law Act. Those acts do not regulate a securitization process as a whole. Securitization as a method of financing of local government units have many benefits. A process of securitization has been discussed as well as a cost of such a process of refinancing. The local governments should take into consideration advantages and disadvantages ofthis process.

Keywords

• securitization
• local government units
• securitized liabilities