On Tuesday 5 May, MEPs on the European Parliament’s Committee on Economic and Monetary Affairs (ECON) approved the report by Ralf Seekatz (EPP, German) on the proposed revision of the regulatory framework for the European securitisation market (see EUROPE 13774/32) by 33 votes to 25, with one abstention. They also approved a change in prudential requirements, with 33 votes in favour and 25 against.
“Reviving securitisation is one crucial instrument to mobilise private savings and channel urgently needed capital into the real economy, especially in the currently challenging geopolitical times”, said Mr Seekatz in a statement sent to Agence Europe on Tuesday evening.
The text put forward by the German Christian Democrat MEP focuses in particular on the development of the car loans and trade receivables sector.
According to a parliamentary source close to the negotiations, Mr Seekatz incorporated “virtually all the demands of the financial lobby”. This source also regretted the lack of binding guarantees to ensure that securitisation generates genuine added value for the real economy.
See the compromise amendments to the package: https://aeur.eu/f/ltb (Original version in French by Bernard Denuit)