...Through no fault of the committee, this feels like another siloed regulatory endeavour that risks again punishing unnecessarily securitisation and tilting yet further an already unlevel playing field away from allowing securitisation to recover...
PCS has
responded to the Joint-Committee of the European Supervisory Authorities on its
consultation
regarding the optional disclosure relating to sustainability of the assets
securitised through an STS transaction.
Our response can
be read here.
Acknowledging
the very narrow mandate that had been given the Joint-Committee and the
challenges this posed, PCS nevertheless believes that this was the wrong
mandate, at the wrong time for far too narrow a sub-set of capital market
instruments. Through no fault of the committee, this feels like another
siloed regulatory endeavour that risks again punishing unnecessarily
securitisation and tilting yet further an already unlevel playing field away
from allowing securitisation to recover and play a full role in financing the
transition to a sustainable economy.
To understand
our approach, we invite you to read only the General Considerations section of
our response. It covers merely three pages. (Although hard core
players are welcome to read the full thirteen page document, of course.)
© PCS
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