ECB and BoE present proposals for improving ABS market

FXStreet (Łódź) - The report on the Asset Backed Securities market, jointly released by the ECB and the BoE on Friday, urges EU officials to develop a set of rules to improve its functioning, which would help strengthen the economy.

The suggestions include a greater participation of authorities in kick-starting the ABS market, as it would "support its revitalization in a more robust form." The ECB and BoE also propose broadening funding possibilities for banks and transferring credit risk away from institutions vital for EU's financial system.

Mike Patterson from ForexLive comments: "Easing/monetary help by any other name but not going to happen any time soon unless ECB adopt some of it next week. The guessing game continues."