ECB postpones wielding ABS repo axe
The European Central Bank has given ABS issuers longer than expected to provide loan-level data to the European DataWarehouse, due to come into effect in December, before losing repo eligibility. But the added costs involved will still be onerous for many borrowers, which may turn to covered bonds instead, analysts warned this week.
While the timetable for submitting data changed little, the ECB said on Friday that it would not start enforcing the rules until later securities will be eligible for repo until the end of March 2014.
Borrowers must start submitting RMBS data from December 1, CMBS and SME-backed
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.