Our decision to intensify the preparations could help to catalyse new securitisation activity. But for a virtuous circle to take hold, the regulatory and market barriers that are preventing the revitalisation of European ABS markets need to come down in tandem. Much work is already on-going to improve the environment for ABS issuance.
What I have tried to outline today is several practical steps that can be taken to take this work forward. I believe that a holistic and coordinated approach among EU policy-makers, as well as greater standardisation and more methodological transparency by rating agencies, could help encourage the revival of the ABS market that we all want to see. Thank you for your attention.