20/02/2018 at 6:06 pm
The combined ESMA / EBA hearing on disclosure, risk retention and homogeneity in the context of the draft RTS published in December was held yesterday (19th Feb). Our overall take-aways are that the extended disclosure obligations and greater standardisation are a clear positive for investors but, on-balance, will likely pose a negative drag on supply-side technicals. In particular, the proposed requirement to disclose credit metrics (PDs/ LGDs) on a loan-level basis will further marginalise pub...
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