EFAMA is grateful for the opportunity to contribute to the drafting of the Regulation through a consultation and we appreciate the effort of the regulator to adopt an approach to reporting consistent with EMIR and to develop, where more efficient, a different reporting logic.

The signatories share the following views:

• Securitisation is an important element of well-functioning financial markets. Prudently deployed and sensibly regulated, it can:

o act as a bridge between the banks’ financing and the capital markets;

o enable non-banks to diversify funding sources; and

o provide investors with high quality fixed income securities at attractive yields.