European securitisation regulations following the 2008 crisis needed to be implemented quickly – and were made in the context of a major global crisis. The net effect has been negative for European growth – limiting credit availability – which suppressed the flywheel of the consumer economy (which has largely driven the US economy), and possibly more importantly reduced infrastructure creation – investment in public infrastructure, housing, offices, advanced manufacturing capacity, etc.. The EU is clearly aware of this and is in the process of removing some of the most impactful suppressants on European securitisation – particularly focused on increasing demand – including by reducing bank capital requirements and insurance capital requirements for holding securitised bonds. This should materially increase European securitisation.
Our report works through all of this – working through how the regulations will affect different asset classes, jurisdictions, originators, and existing secondary market assets. This one is a subscriber-only access report. You can request free trial access using the link below if you are not already a subscriber.
