Jose Manuel Gonzalez-Paramo, a member of the European Central Bank Executive Board, said "fundamental" changes to simplify, standardise and bolster transparency of the securitisation market are needed. He also called the market's revival "crucial". "If managed in good order, securitisation should be a welfare-improving tool," Gonzales-Paramo said. "The revival of securitisation markets is needed in many countries to support the provision of credit to the real economy, particularly to households and small business."
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