Financial Times FT.com

Disclosure move aims to revive ABS market

By Ralph Atkins in Frankfurt and David Oakley in London

Published: May 17 2009 20:48 | Last updated: May 17 2009 20:48

The European Central Bank is pushing for an increase in the amount of information that has to be disclosed about asset-backed securities as part of efforts to revive a market that has collapsed since the start of the credit crisis in August 2007.

The ECB wants more details on these securities to be passed to ratings agencies, including data on the individual loans that back them. These are mainly mortgages, but also include credit card, corporate and car loans.

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