Die Association for Financial Markets in Europe hat einen Report vorgelegt zum Thema „High quality securitization“ für Europa. Der Report ist eine gute Zusammenfassung der Argumente für ein besonderes HQ ABS Regime in der Regulierung zur Wiederbelebung des Verbriefungsmarktes. Konkret schlägt AFME vier praktische Schritte zur Marktbelebung vor:
-Recalibrate the rules for risk-weighted assets for bank investors in securitisation set out in the December 2013 Basel Committee re-proposal, so as to reflect the good historic performance in Europe, and bring securitisation into line with other fixed income securities and underlying asset pools
– Lower the capital charges for insurance companies seeking to invest in securitisation, set out in the December 2013 EIOPA report, to create a comparable playing field with other fixed income securities such as corporate and covered bonds, and direct investment in the same assets Include a wider range of high quality securitisations as High Quality Liquid Assets under the Liquidity Coverage Ratio. Until now only certain types of RMBS have been proposed for eligibility
– Acknowledge the progress already made in improving transparency and disclosure, build on this work, and avoid new and intrusive regulations that are not aligned with existing practice and which create duplication and confusion in a market which already has very high standards of transparency
– Ensure better coordination between regulators and internationally to prevent the “layering” effect of overlapping regulations and promote mutual recognition of equivalent standards.