The Securities Industry and Financial Markets Association (SIFMA) and its affiliate, the European Securitisation Forum (ESF) today welcomed Sir James Crosby’s assessment and analysis of current market conditions, the implications on the securitisation market and potential policy alternatives.
“As stated in the report, the ESF is actively engaged with HM Treasury in looking at a number of ideas to stimulate the demand for residential mortgage-backed securities,” says Rick Watson, head of the ESF. “In addition, a number of transparency initiatives are under way by ESF, SIFMA and other industry associations in Europe and the US. This is part of joint work undertaken at a global level to respond to the crisis and boost investor confidence.”
“We support Sir Crosby’s thoughts and welcome this interim report which produced an excellent analysis of the UK mortgage market,” says Karsten Moller, senior managing director, SIFMA and head of Europe and Asia. “We appreciate that the Treasury are considering a number of options and actions under consideration to restore confidence, and to get the mortgage-backed securities market going again.