The Financial Times reported Mr Draghi's comments on securitisation at the Davos meeting. The FT focused more on the possibility of purchases of securitisations by the ECB than on the need for regulations to define high quality securitisations in order for the market to return. It seems to PCS that Mr Draghi was primarily musing on the possible nature of a European QE in view of the legal prohibition for the ECB to effect outright purchases of sovereign debt. One possibility mentioned was securitisation but, here, the problem foreseen by Mr Draghi was the simple fact that there was insufficient securitisation issuance for an effective QE action. Hence his request for regulatory assistance. The article may be found here (but is behind a pay wall)
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