By assisting banks’ ability to fund and distribute risk the securitisation of SME loans could contribute to connect the financing needs of SMEs with the funds of investors who would otherwise not invest in those SMEs.. Looking forward, at least three steps are necessary.
And yes, the experience of the past decade has been yet another example of the start-and-stop pattern of the hare-and-tortoise metaphor used more than a decade ago by some other old-hands to describe the previous halfcentury. But the dynamics of the two crises differed a lot.