Banks got a lot of what they asked for when the Basel Committee on Banking Supervision reworked its proposed capital rules for securitised debt in December. You wouldn’t know it from their reactions, though.
After enthusing about the changes, some of which are taken more or less straight from industry counterproposals, a senior securitisation executive at one European bank gets frustrated. “We’ve been talking for 15 minutes now about what’s improved. I want to spend some time talking about what