PCS grants its 100th label

As the regulatory debate on “STS securitisation” fast approaches the stage of concrete proposals, PCS is delighted to announce that it has issued its 100th and 101st high quality securitisation labels to Master Credit Cards PASS Compartment France 2015-1, a French credit card securitisation issued by Carrefour Banque (label 100) and HIGHWAY 2015-1, a Dutch auto fleet lease securitisation issued by Athlon Car Lease Nederland (label 101) respectively. With these milestones, the volume of transactions which the market has entrusted to the PCS Label reaches € 136 billion of PCS labelled senior notes (and €154 billion by total securitisation transactions containing the PCS label). We wish to thank all the market participants, including issuers and investors alike, who have shared in our mission to help revive a strong and safe European securitisation market.