“We are close to adopting our proposal on the securitisation framework”, said Alexandra Jour-Schroeder, the Deputy Director General at the European Commission’s Directorate-General for Financial Services (DG FISMA), on Wednesday 4 June at a conference organised by the Federation of European Securities Exchanges (FESE) in Brussels.
“We think this is an essential step to unlock the full potential of this tool if the money then is really fit for the economy”, the senior official said, recalling the key objectives of the Commission’s strategy for a Savings and Investments Union, presented in March (see EUROPE 13603/5).
“This is quite a big policy shift, as we may have been a little too much traumatised by the financial crisis we had. Things have changed, but again, this in no way means a relaxation of financial stability”, she emphasised to an audience of individual and institutional investors.
The European Commission plans to revise EU rules on securitisation, focusing on due diligence, transparency and prudential requirements for banks and insurers. A legislative proposal has been expected since early April (see EUROPE 13603/5). (Original version in French by Bernard Denuit)