ECB's Mersch: ECB has made significant effort to ensure high degree of transparency in European ABS

Key highlights from the speech by Yves Mersch, Member of the Executive Board of the ECB, 5th Anniversary European Data Warehouse, Frankfurt, 4 July 2017:

• The financial crisis and its ramifications threatened the provision of funds to the real economy
• ECB will also - in the not too distant future – have to review the specific role of ABS in the context of the broader issue of QE beyond 2017
• A new frontier for having more transparency in the form of loan-level data could emerge
• The Eurosystem ABS loan-level Initiative has made an important contribution in ensuring a high degree of transparency to enable investors to assess the embedded risks of securitisations