Council of EU holds firm to salvage STS securitisations

Market participants welcome reversion to 5% retention rate and lower penalties for breaches

Show of strength: the council blocked attempts by European MEPs to double 5% risk retention rate for originators of securitisation deals

The Council of the European Union has blocked attempts by members of the European Parliament (MEPs) to double the current 5% risk retention rate for originators of securitisation deals in a trialogue agreement, which participants believe will save the market from a heavy blow. Other potentially onerous requirements have also been eased, has learned.

“Ultimately, we are currently applying a 5% risk retention, so there is no change, but it does mean it is not going to get worse for asset

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