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Να το πω απλα για αλλη μια φορά τα τελευταια 4 χρόνια….
Τώρα θα φτιάξουν νέα παραγωγα προιοντα χρησιμοποιώντας ως εγγύηση ταωδανεια και τα προϊόντα των τραπεζών ( Πίστη Καρτες, υποθήκες κλπ )
Ποιος είναι ο καλύτερος ΧΥΜΑ ΠΕΛΑΤΗΣ ?? Η ΕΛΛΑΔΑ FAILED STATE.
Πλιάτσικο ΜΕ ΤΙΤΛΟΠΟΙΗΣΕΙΣ χωρίς ελεγχο!! ΓΙΑ ΤΟ “ΚΑΛΟ” ΜΑΣ.
Να θυμισω την τιτλοποίηση των μελλοντικών εσόδων απο υδρογονάνθρακες!!
Να θυμισω την τιτλοποίηση των ακινήτων του ΤΑΙΠΕΔ.
ΟΛΑ ΓΙΑ ΤΟ ΚΑΛΟ ΜΑΣ = ΝΑ ΒΓΟΥΜΕ ΑΓΟΡΕΣ ΜΕ ΕΓΓΥΗΣΕΙΣ ΚΑΙ ΥΠΟΘΗΚΗ ΤΗΝ ΚΡΑΤΙΚΗ ΠΕΡΙΟΥΣΙΑ
ΔΙΑΒΑΣΤΕ
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EU to ease rules on ‘toxic sludge’
By Claire Jones in Frankfurt, Alex Barker in Brussels and Christopher Thompson in London
European regulators are preparing to get their hands dirty by easing rules on an asset class once labelled toxic sludge, in a bid to boost lending to credit-starved small businesses in the region.
The European market for securitisation has all but closed for business since the crisis, when the practice of slicing and dicing of loans into packages known as asset-backed securities was blamed for letting problems in the market for US subprime housing loans spread through the global financial system.
The EU is now seeking to revive the moribund market, an objective which is shared by the European Central Bank. Mario Draghi, ECB president, has hinted that were there sufficient liquidity in the market for asset-backed securities, the ECB would be prepared to buy them to counter the rising risk of deflation.
“We think that a revitalisation of a certain type of [asset-backed security], a so-called plain vanilla [asset-backed security], capable of packaging together loans, bank loans, capable of being rated, priced and traded, would be a very important instrument for revitalising credit flows and for our own monetary policy,” Mr Draghi said last month.
Michel Barnier, the EU commissioner responsible for financial services, will make it easier for insurers, one of the industry’s biggest potential customers, to hold these assets by easing capital rules on their holdings of relatively safe forms of these securities.
A revised draft of technical rules to implement Solvency II, the law governing the European insurance industry, seen by the Financial Times, reveals officials are planning to halve the capital requirements on securitisations deemed to be of high enough quality.
Under the changes, the capital requirements on the safest securitisations would be sliced in half from 4.3 per cent to 2.1 per cent.
The move is part of a broader set of measures to support financing to the bloc’s businesses, which rely on bank lending far more than their US counterparts. A pledge to rebuild a European market for the repackaging of loans is set to feature in an update on the European Commission’s green paper on the future of finance, due to be unveiled on Thursday.
In its future work, Brussels will look to give relatively safe, high-quality securitisation products “preferential regulatory treatment” across financial legislation, including in the rules that require banks to hold a minimum amount of liquid, easy to sell assets.
Banks use asset-backed securities, which can be created from bundles of loans for anything from mortgages to credit cards and cars, as a funding tool. Selling the securities would free up more money for loans to businesses and households.
The changes to the Solvency II rules only affect Type 1 securities, which are more transparent and bundle together only high-quality loans. But even if the changes are passed, the capital requirements on insurers’ holdings of asset-backed securities will remain far more onerous than those for the most highly-rated corporate bonds.
The industry believes capital requirements must fall to levels nearer those for corporate debt if insurers, who make up as much of a quarter of the demand base for European securitisation, are to re-enter the market in force.
“The recovery of the European securitisation market is dependent on attracting more private investment. The insurance sector has the potential to play an important part in this,” said David Covey, head of European ABS strategy at Nomura.