ECB points to securitisation, interest rate risk concerns
In its December Financial Stability Review, published Thursday, the European Central Bank (ECB) said securitisation in the single currency zone remained impaired, but that this would be addressed in part by new rules introduced in April.
The ECB said issuance volumes for asset-backed securities (ABS) were "subdued", having fallen to their lowest level since 2003. This posed a concern. "Insufficient transparency about the composition of the asset pools has been identified as one of the key
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