CEBS: Retention requirement not cure-all for securitisation
The Committee of European Banking Supervisors released a 60-page report that says the 5% retention requirement passed by the European Parliament is "not a panacea for previous issues that arose in securitisation". The CEBS did not recommend that the retention requirement be increased. The CEBS also recommended adding safeguards against market abuses. The suggestions are in line with an industry push for more disclosures in markets. For example, the Association for Financial Markets in Europe / European Securitisation Forum early this year issued best-practice guidelines for residential mortgage-backed securities disclosures.
Risk.net | 03 Nov.
This story published in SIFMA Global SmartBrief on 11/04/2009
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