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ABS Loan Level Initiative : ウィキペディア英語版 | ABS Loan Level Initiative
The ABS Loan-Level Initiative began after support for the idea was recognised at a European Central Bank (ECB) public consultation.〔(【引用サイトリンク】url=http://www.ecb.eu/pub/pdf/other/consultationabsloanlevelinformationen.pdf?50db90f73f1d89b3b236eb2c50e056bd )〕 It establishes specific information requirements for asset-backed securities (ABSs) accepted as collateral in Eurosystem credit operations. The aim is to allow market participants access to standardised timely information on loans and their performance. Access to this information should allow market actors to make more informed assessments of asset backed securities. The Eurosystem believes that the new data requirements will help both investors and third-party assessment providers with their due diligence. It is hoped that the loan level initiative will help instil transparency and ultimately confidence back into the securitisation market Following the ECB initiative, the Bank of England has made Loan Level information one of their extended eligibility criteria for ABS collateral, but without a costly central Data Warehouse and with free access to market participants.〔(【引用サイトリンク】url=http://www.bankofengland.co.uk/markets/Documents/marketnotice100719a.pdf )〕 ==Background==
Following the 2008 financial crisis the ECB wanted to restore confidence in the securitisations market. The perceived problems were a lack of transparency and the absence of a standardised system across asset classes. These made it difficult to make accurate risk assessments of the securities. Enabling better risk assessment would then have the effect of encouraging investors and reducing the current levels of reliance on the Eurosystem.
抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)』 ■ウィキペディアで「ABS Loan Level Initiative」の詳細全文を読む
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