EU ECB optimised its system. For Asset Backed Securities....

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Main objectives

The loan-level initiative aims to:

1. improve transparency in ABS markets by requiring loan-by-loan information to be available and accessible to market participants on an ongoing basis. This is considered necessary to revive the ABS markets; 2. facilitate the risk assessment of ABS's as collateral used by Eurosystem counterparties in monetary policy operations

http://www.ecb.europa.eu/paym/coll/l.../index.en.html

In the past, assessments of asset-backed securities have been hampered by the lack of standardised, timely and accurate information on single loan exposures. The Eurosystem believes that the new data requirements will help both investors and third-party assessment providers with their due diligence. Ultimately, more transparency will help to restore confidence in the securitisation market.


The requirements will apply to existing and newly issued ABSs and are expected to be introduced in the 18 months following the announcement on 16 December 2010.

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Jeeves, mark that to market will you - and get Bond in here. There's a problem in the Cayman's, and Daring is on its way.
Attachment 9643

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BIS's consolidated stats at end-June 2012 are out.

Finance leverages efficient allocation of resources to generate wealth; a double edged edam because contraction can amplify. Spain affects France, Italy, Germany but the effect amplifies into France and Italy affecting Germany, etc. Risk is netted off but large writedowns are trouble.

Guess what Don Quixote's up to. Fas 157 mark II.