NY Fed's Dudley on the future of securitisation

A smaller, more homogeneous and independent securitisation market is likely to emerge from the crisis, William Dudley, the president of the New York Federal Reserve, said on Thursday.

Dudley told an audience in New York that he suspected investors - scarred by their experience with complex, unique financial instruments - would seek solace in standardised, homogeneous and easy-to-evaluate products. "This will improve the underlying liquidity of securitisations, which should result in lower len