The Bank of France, together with the French Ministry of the Economy, Finance and Industrial and Digital Sovereignty, the Prudential Supervision and Resolution Authority (ACPR) and the Financial Markets Authority (AMF), issued a joint response to the European Commission’s consultation on the functioning of the EU securitisation regulatory framework. The authorities support an ambitious review of the framework, centred on concrete measures to simplify and adjust requirements, including prudential and operational obligations, while preserving strong safeguards and adequate transparency. The response positions the revival of the European securitisation market as a French priority linked to building a genuine Savings and Investment Union, referencing recent reports by Christian Noyer, Enrico Letta and Mario Draghi and noting support from the European Securities and Markets Authority (ESMA). It argues that, if properly regulated and supervised, securitisation can provide a powerful funding channel for the economy, including for the green and digital transitions, and that any reforms should maintain a high level of safety and support financial system resilience. The joint submission has been made available on the European Commission’s website.
Bank of France 2025-02-21
Bank of France and French authorities submit joint response calling for simplification and recalibration of EU securitisation rules
The Bank of France, French Ministry of the Economy, Finance and Industrial and Digital Sovereignty, ACPR, and AMF responded to the European Commission's consultation on the EU securitisation regulatory framework. They advocate simplifying requirements while maintaining safeguards and transparency, emphasizing securitisation's importance for economic funding and resilience. The response highlights reviving the European securitisation market as a French priority for a Savings and Investment Union.