After years of delays, Australian Prudential Regulation Authority is expected to release as early as Thursday its plans for reforms to the regulation of securitisation, according to a report in the AFR Street Talk column.Small lenders in particular, including credit unions and non-bank lenders, are sweating on how long APRA will allow loans to be warehoused by banks before they are turned into securities that can be sold to investors, the AFR report observed, adding that APRA's former head of policy, Charles Littrell, has previously said it wants to limit this to 12 months because as it stands, no lender is holding any capital to cover defaults on those loans during that period.If so, such a rule change could mean lenders that don't generate loans fast enough would lose securitsation as a funding source. This could force many smaller banks to merge.Lenders are also keen to see APRA endorse the use of so-called "master trust" structures in Australia, the AFR report noted.