The legal evolution of securitization laws among European countries has provided a much-needed platform for structural innovation, as well as bridging the gap of jurisdictional nuances, bringing domestic laws more in line with each other.

"The European market is up in both volume and developments within the legal environment of the market," said Yaron Ernst, Moody's Investors Service senior credit officer, on a teleconference held last week. "The legal innovations display signs of maturity in the securitization market."

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