PCS files its response to the BCBS/IOSCO consultation on simple, transparent and comparable securitisations. We view this work stream by the Basel Committee and IOSCO as a major and positive move towards a global approach to securitisation that is in line with our own analysis and the positions taken by the European stakeholders in the asset class, including many European policy makers. PCS very much hopes that this work will lead to a new global regulatory approach to securitisation that will help in the return of a strong worldwide securitisation market free from the build up of systemic risk that occurred prior to 2007. Such a market would facilitate the cross-border mobilisation of capital to fund the real economy and growth.
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