New view of securitisations necessary
In an interview with Börsen-Zeitung of 2 January 2023, the German Minister of Finance Christian Lindner shows itself open to a reform of the European securitisation market in the course of the planned Capital Markets Union. In doing so, he emphasises that the stigma of securitisations since the financial crisis must be lifted. In addition, he suggests reconsidering the very restrictive stance that is also anchored in the regulatory framework in Europe.
As expected, Lindner does not yet name concrete measures or a probability for the success of such reform ideas. Hence, he does not suggest a new legislative proposal. Nevertheless, Lindner would like to relaunch the discussion on the reform of the European securitisation market. In doing so, he suggests an evaluation of the prevailing European legal framework and advocates a more effective balancing of transparency and stability as well as the strengthening of financing options.
An important contribution to financing the transformation
The Federal Finance Minister's push goes hand in hand with an essay by Bundesbank President Joachim Nagel and his French counterpart François Villeroy de Galhau from mid-November 2022 (ger), in which they stress that securitisation can make an important contribution to financing the transformation, especially for the broader SME sector in Germany and Europe.
To the full interview in German language
In this interview, Christian Lindner also comments on the topics of the Future Financing Act, the Stability and Growth Pact, the federal budget and corporate taxes, among others.