ABS retention tension


Nothing is so defective as those laws that correct defects,” a French philosopher once quipped. This maxim nicely sums up the fears of securitisation originators, as regulators in the US and Europe look to eradicate abuses in the asset-backed securities (ABS) market. Several pieces of legislation have already been proposed that will, among other things, require originators to hold a slice of the risk, raise risk weights for resecuritisation transactions and increase disclosure requirements. Howe

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