AFME, in association with the International Association of Credit Portfolio Managers (IACPM), has responded to the EBA's significant risk transfer discussion paper. The response reveals investor-related concerns around certain aspects of the paper, most notably on the early termination of credit protection.
The responses that have been disclosed thus far - especially during the EBA's public hearing last month - focused on the issues of excess spread, time calls and the commensurate risk transfer tests, voiced primarily by issuers (SCI 24 November).
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