The lack of good statistical information on securitisation gained increasing relevance over the last decade and became particularly obvious in the financial crisis. In order to provide for a consistent monitoring of securitisation, the ECB has now introduced new quarterly balance sheet statistics that cover “financial vehicle corporations engaged in securitisation”.
Such attempts at macroeconomic fine-tuning raise public expectations that economic policy cannot live up to; rather, they risk creating new frictions that require further interventions. Instead, it is up to the national authorities to implement the necessary structural reforms to allow for a market-based and lasting reduction of imbalances. 2  BIS central bankers’ speeches