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“These rules will help reinvigorate the securitisation market, thereby increasing the capacity for lending to households and businesses", said Toomas Tõniste, minister for finance of Estonia, which currently holds the Council presidency. "Defining a model for simple, transparent and standardised securitisations is an important step, building on recent work to regulate the industry and address risk."
The two regulations were adopted at a meeting of the General Affairs Council, without discussion.
The European Parliament gave its approval on 26 October 2017. This follows an agreement reached by the presidency and the Parliament on 30 May 2017.