According to market sources, there may soon be new provisions under the Italian securitization law that would allow small- and medium-sized enterprises (SMEs) to create the critical mass necessary to access the securitization market.

As of now, these smaller-sized entities have not been able to tap the market on their own, largely due to the servicing costs involved. Italy has already seen smaller banks grouping together to issue mortgage-backed securitizations. So the next step may very well be the grouping of SMEs.

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