The Council text on the STS Regulation, which now reflects the position that will be forwarded to the European Parliament has just been published. Upon a quick perusal this text seems to be another large step forward from the already excellent work done by the Commission. It appears to address many of the residual concerns that had been expressed by stakeholders, including ourselves, and in particular issues around ABCP and third party certification. We expect to issue a fuller analysis as soon as possible.
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