Government-issued ABS of non-performing assets may revive securitisation market

US government agencies such as the Federal Deposit Insurance Corporation and the National Credit Union Administration are using securitisation as a means to monetise the assets of failed banks and credit institutions. Governments in Europe are keen to follow suit, but there are several obstacles to success.

Government ABS to the rescue?

In what could be viewed as an ironic twist, securitisation – the market widely condemned for being at the epicentre of the recent global financial crisis – is now being looked on as a potential solution to the debt problems of banks and governments across the western world.

Two government agencies in the United States, the Federal Deposit Insurance Corporation and the National Credit Union Administration, launched securitisation programmes in 2010 as part of their efforts to monetise distressed

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