Securitisation market seeks SPV clearing carve-out

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The cost of securitisations could increase if the special purpose vehicles (SPVs) used in most deals are not granted a clearing exemption for swaps they transact, according to the International Swaps and Derivatives Association. That could hamper attempts to revive the market – a step some regulators have argued would help stabilise the banking industry by providing an additional source of funds.

"If SPVs are required to clear, it would make them a whole lot less viable. You would have to add

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