The Italian treasury securitization activity may have initially called attention to the possible problem brewing at Eurostat headquarters (see ASR 3/25), but last week word was that the regulator's task force is gathering its view on a ruling that will affect all government-related securitization.

Details of the task force conclusion on whether or not the recent government-related transactions would be treated as off-balance-sheet should be ready by the beginning of July, said one source close to the situation.

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