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Securitisation in Europe – which way forward?

Dates:
  • Wed 25 Nov 2020 13.00 - 14.00
  Add to Calendar 2020-11-25 13:00 2020-11-25 14:00 Europe/Paris Securitisation in Europe – which way forward?

Securitisation can constitute a central channel to diversify banks funding within the real economy, if it is structured in a sound way and can operate in a favourable environment. In this context STS securitisations are so-called ‘simple, transparent, and standard’ transactions that have been created to ensure a more risk-sensitive prudential framework, and to facilitate cross-border transactions since 2017. Their ‘simple’ structure is meant to allow for clear and comprehensive modelling of risks, while transparency is crucial for investors’ due diligence towards those transactions. Moreover, they follow high-quality standards.

Both the public and private sectors take part in the STS securities market. However, the numbers seem quite low, with a slight increase of notifications of STS securitisations to the European Securities and Markets Authorities (ESMA) over the last months (from 184 in March 2020 to 396 early November). The threefold dimension of STS securitisation, supposed to encourage the development of the securities market, has yet to deliver its full potential.

This online debate will:

  • Ask whether current regulatory requirements a barrier or an incentive for market actors
  • Discuss how to favour its development and ultimately reach a single market for STS securitisations in Europe
  • Explore the nature of the key underlying exposures in the STS securities market

Online debate - DD/MM/YYYY
  Online debate -

Securitisation can constitute a central channel to diversify banks funding within the real economy, if it is structured in a sound way and can operate in a favourable environment. In this context STS securitisations are so-called ‘simple, transparent, and standard’ transactions that have been created to ensure a more risk-sensitive prudential framework, and to facilitate cross-border transactions since 2017. Their ‘simple’ structure is meant to allow for clear and comprehensive modelling of risks, while transparency is crucial for investors’ due diligence towards those transactions. Moreover, they follow high-quality standards.

Both the public and private sectors take part in the STS securities market. However, the numbers seem quite low, with a slight increase of notifications of STS securitisations to the European Securities and Markets Authorities (ESMA) over the last months (from 184 in March 2020 to 396 early November). The threefold dimension of STS securitisation, supposed to encourage the development of the securities market, has yet to deliver its full potential.

This online debate will:

  • Ask whether current regulatory requirements a barrier or an incentive for market actors
  • Discuss how to favour its development and ultimately reach a single market for STS securitisations in Europe
  • Explore the nature of the key underlying exposures in the STS securities market


Location:
Online debate -

Affiliation:
Robert Schuman Centre for Advanced Studies

Type:
Online Debate

Links:
Full information and registration link

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