The Securities Industry and Financial Markets Association (SIFMA) and the European Securitization Forum (ESF) said they welcome the assessment and analysis of current market conditions stated in the recent U.K. treasury report authored by Sir James Crosby. The report also looked at the implications on the securitization 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," said 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 U.S. This is part of joint work undertaken at a global level to respond to the crisis and boost investor confidence.