Into the void: Europe’s new but hazy securitisation market

Regulatory vagueness reaches new heights as incomplete rules take effect

The two conflicting forces of finance are, by tradition, fear and greed. In the case of European securitisation, the dominant factor is fear as incomplete regulations are deterring originators and investors from entering the market.

The result is a slowdown in issuance just when lawmakers were hoping that their regulatory overhaul would spark a revival in this crucial form of funding.

“You really have to have courage to go out into this market under all of this uncertainty with the rules not