The European Commission has defended its plans to forge ahead ahead with plans to introduce sovereign bond-backed securities (SBBS), despite market participants’ lack of enthusiasm for the project.
A draft proposal seen by GlobalCapital on the instrument, whose aim is to tackle the “bank-sovereign” nexus by effectively allowing banks to diversify their holdings of ultra-safe assets, is the latest step by the Commission to introduce SBBS. One of the plans is to treat SBBS equally to
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