Calls for fair treatment of securitisation

BASEL – A group of 11 industry bodies worldwide has jointly delivered a 73-page response to the second consultation on revisions to the Basel securitisation framework. The response, from organisations including the Global Financial Markets Association, the Institute of International Finance and the International Swaps and Derivatives Association, was one of 28 received from banks, rating agencies and even the German automotive industry association. The Basel Committee on Banking Supervision (BCBS) published the paper in December 2013, with a deadline of March 2014 for comments.