The European Commission has been accused of “undermining the competitiveness of European financial institutions” by failing to act on securitisation reform.
A joint letter from a group of nine organisations representing key participants in the European securitisation market has warned the stalling was leading to a "strategic loss to the European financial system". As the macroeconomic environment continues to worsen, the letter recommended urgent targeted measures to support securitisation, such as adjustments to securitisation-related calibrations and mandates for more risk sensitive revisions to be undertaken. It said: "Securitisation is vital to achieving the objectives of the capital markets union and addressing the very significant f...
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