If the ABS market benefits along the way to securing our objectives, so much the better, but we do not a priori favour any one type of financial instrument over another. Still, it is no secret that, broadly speaking, European securitisation markets are not doing too well.
Market-placed issuance is low, trading is thin in some segments, the size of the investor base has not recovered and various conservative regulations are under discussion. What can be done to revitalise securitisation markets in this context?