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Priorities for relaunching securitization

Day 2 Morning

Thursday 15 April

Track :

CMU 2.0


Dominique Laboureix
Secretary General - Autorité de Contrôle Prudentiel et de Résolution (ACPR)
Public Authorities
Paulina Dejmek Hack
Director for General Affairs, DG FISMA - European Commission
Thomas Schmitz-Lippert
Director General - Federal Financial Supervisory Authority, Germany (BaFin)
Industry Representatives
Alexander Batchvarov
Managing Director, Global Research - Bank of America
Nathalie Esnault
Managing Director Securitisation - Crédit Agricole Corporate and Investment Bank


On 2020, the Commission proposed a Banking Package to facilitate bank lending to households and businesses throughout the EU. The European Commission also announced a “Coronavirus response: Making capital markets work for Europe’s recovery” initiative encompassing a package of measures amending the Securitisation Regulation and the Capital Requirements Regulation. In particular, the Commission proposed creating a specific framework for simple, transparent and standardised on-balance-sheet securitisation. In addition, the Commission proposed to remove existing regulatory obstacles to the securitisation of non-performing exposures. Indeed, the current framework was not designed for NPE securitisations.

The specific aim of these changes was to facilitate the use of securitisation in Europe’s recovery by enabling banks to expand their lending and to free their balance sheets of non-performing exposures.

The session is in this context aiming at clarifying whether these additional evolutions, which come after the securitisation framework had been profoundly overhauled in recent years, effectively helped the EU banking sector to contribute to addressing covid19-related challenges, and even more if the EU has now achieved an effective relaunch of the securitisation market. Understanding possible remaining deadlocks would help identifying the necessity to envisage additional regulatory initiatives.

Points of discussion

  1. What is the expected role of securitisation to EU financing mechanisms in the context of EU financing and investing needs as well as the Covid19 needs? What should be the size and role of securitisation in Europe in the context of EU financing and investing needs? What should be the role of the EU insurers among other investors, in such an EU securitization market development effort?
  2. How is performing in the EU the securitisation market and what are the main reasons of this actual performance?
  3. What should be the policy priorities to improve the securitisation market in the EU and strengthen the contribution of banks to the financing needs of the EU economy notably in the Covid19 context?