The change in perception of securitisation in Europe, from source of the problem to part of the solution, has been swift. Unfortunately, the statute books are yet to catch up.
Even as European Union policy-makers work on ways to revive the market in asset-backed securities (ABSs) to boost the region's economy, rules written into Solvency II that form part of the response to the financial crisis threaten to force insurers to dump legacy portfolios.
European insurers already face charges for ABSs
The week on Risk.net, October 6-12, 2017Receive this by email
- Quantile, TriOptima face off in cleared swaps compression battle
- Leaked EU doc could shield legacy swaps from clearing grab
- ABS set for revival under US Treasury’s liquidity buffer plans
- SGX, HKEX expect to be among first wave of Mifid II equivalence
- Industry hails potential US relaxation of margin timing rules