The German government has answered the FDP faction’s written parliamentary question on the final report of the German Financial Industry Initiative (“Taskforce Verbriefungen”) dated 23 December 2024 (for more information, see TSI kompakt from 7 January 2025).
As expected, the federal government has not formulated any concrete plans in view of the upcoming elections.
Concrete measures are not mentioned – the core statements of the Federal Government
The Federal Government’s core statements are summarised below:
- The final report of the securitisation task force has been provisionally evaluated by the German government and discussed in specialist groups.
- In response to questions from the FDP faction on market figures, the Federal Government merely refers to publicly available sources.
- The German government supports the European Commission’s plans to reduce red tape. This primarily relates to simplifications under Article 5 (due diligence) and Article 7 (disclosure) of the Securitisation Regulation.
- With regard to capital requirements, the German government refers to existing European regulation and refrains from expressing a more far-reaching opinion.
- A draft legislation for a German securitisation law will not be tackled before the new elections due to time constraints.
No new insights – securitisation remains on the agenda
To summarise, little new insights can be derived from the Federal Government’s answers to the FDP faction’s written parliamentary question. However, these were not to be expected shortly before the replacement of the current executive. The focus currently remains on Brussels and the European Commission.