Mersch criticises Commission over securitisation regulation
Some ‘STS’ provisions reduce transparency and increase complexity, ECB board member says
A member of the European Central Bank’s executive board has expressed “concerns” about some of the “simple, transparent and standardised” (STS) rules for regulating securitisations.
The ECB welcomed many aspects of STS, which would considerably enhance the transparency of asset-backed securities (ABSs), Yves Mersch told an audience in Frankfurt on July 4. The STS recommendations are the result of work by the European Commission (EC) to provide a new set of rules for European securities markets
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