However, more attention needs to be drawn to the alternative funding channels to achieve two goals. To remove any undesirable impediments to their efficient functioning. And to ensure that they do not create new threats to financial stability. Several new initiatives have been taken in the areas that go beyond banking.
These include the public consultation4 in early summer by the ECB and the Bank of England to stimulate discussion on how to build a better functioning securitisation market in the European Union. In particular, this consultation highlighted a suggestion to create standards for the so-called qualifying securitisations to identify low-risk ABS products that are simple, robust and transparent.