Irish Department of Finance publishes a report on the non-bank funding of growth and jobs in Europe. PCS is explicitly described as "as step in the right direction"

In the context of the Irish Presidency of the Council of the European Union, the Irish Department of Finance has published a summary report entitled "High-level Workshop on Non-Banking Funding of Growth and Jobs in Europe".  The report, which complements and supports the EU Commission's ongoing work on the issue of long-term funding (and, in particular, its Green Paper) examines possible source of non-bank funding necessary to bridge the funding gap which results from the deleveraging of banks.  This report looks into securitisation funding for SME's.  It also specifically refers to the PCS initiative, which it describes as "a step in the right direction".

The full report can be found here