PBR 2009: Government looking to boost securitisations
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In his Pre-Budget Report today, chancellor Alistair Darling says the government is exploring ways of encouraging more sustainable, transparent and standardised mortgage-backed securities markets.
Darling says: “It is important that lenders continue to have access to a diverse range of funding sources, including securitisation markets. These markets need, however, to be robust, more liquid and consistent with financial and macroeconomic stability more broadly.”
It will work with the Bank and the Financial Services Authority through the Council for Financial Stability, and in discussion with issuers and investors, in order to establish a broader investor base and lay the foundations for stronger markets in the future.
The government says it will update on progress at Budget 2010.
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Readers' comments (1)
Anonymous | 9 Dec 2009 4:56 pm
Great news but when? Next week would be good but it's taken them two years to finally hear what is being said so don't expect too much urgency even though it is desparately needed and the budget next March is far too long to wait.
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