ESMA docs may leave trade receivables hanging
The European Securities and Markets Authority (ESMA) is unlikely to provide a securitization regulation template for trade receivables, legal experts say, leaving the market to awkwardly push the asset class into other formats.
The Magic Circle law firms held a quarterly meeting last week, for which ESMA was invited to comment on the ambiguity about applying the new Securitisation Regulation to non-ABCP trade receivables.While a template was provided in the Securitization Regulations for trade receivables held in asset-backed commercial paper ...
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