Thirteen countries including Germany, Italy, Spain, Portugal, Ireland and France called on the European Commission to delay or change the plan for further regulations of ABS investments, according to market reports.
Unicredit Markets and Investment Banking analysts said that the criticism and concerns are related to the commission's draft to restrict investments in ABS debt.
The European Commission plans to restrict investments in credit risk transfer instruments unless the issuer retains a stake of at least 10% in the respective instrument (e.g. ABS or other credit derivatives).
