This report assesses the European Commission’s 17th June 2025 proposals for reforming bank securitisations capital rules. While we welcome the intended goal of unlocking bank issuance and investments in securitisation, and the direction of the proposed rule changes, we believe that some further prudent targeted technical adjustments to the proposals should be made to improve the impact on real economy financing in Europe and contribute to a level playing field across asset classes and EU Member States, while improving risk-sensitivity and preserving financial stability.
Read the full paper here.
The study was co-authored by Michael Bennett, Georges Duponcheele, Fernando González, Jérémy Hermant, Véronique Ormezzano, William Perraudin and Frédéric Zana.
