More diversity may be on the way for Russia’s mortgage-monopolized securitization market, according to Standard & Poor’s and Moody’s Investors Service.

S&P sees unsecured consumer loans and credit cards as especially ripe for the asset-backed treatment, while Moody’s expects a range of non-mortgage assets to get securitized. The catalyst is legislative - namely, a securitization law that is scheduled to go into effect this July.

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