ECB pushes banks on ABS reporting

ecb-office-frankfurt

The European Central Bank (ECB) is demanding more information on the securities backed by loans to small and medium-sized enterprises (SMEs) that it accepts as collateral.

As of October 16 the ECB will cease to accept any residential mortgage-backed securities (RMBS) or asset-backed securities (ABS) that fail to meet the new higher reporting standards. The ECB will, however, consider "temporarily" accepting securities that fall short of the standard.

Frederik Ducrozet, a senior eurozone economis

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