EC’s blind backlash against ABS creates an unholy mess
The securitisation industry disliked one proposal from the European Commission to reform the capital treatment of securitisations. So the EC has hit back with a completely different proposal that seems much worse — and given the industry just two weeks to respond. Regulators and the industry badly need to get round a table and thrash out a sensible deal, as the latest proposal looks disastrous.
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