Policy Focused Debate

📅 14 January 2026

🕔 From 13:00 to 14:30 (registration and welcome coffee at 12:30)

📍 European Parliament, Members' Salon

Context

On 17 June 2025, the European Commission adopted a package of measures to make the existing conduct and prudential rules more risk-sensitive and proportionate . This Commission proposal is the first initiative adopted under the Savings and Investments Union Strategy, which was published in March 2025 and is a cornerstone of the 2024-2029 Commission mandate. 

This review seeks to revitalise the EU securitisation market by removing unnecessary barriers to issuance and investment, while ensuring that the framework remains robust from a prudential perspective. To this end, the Commission has adopted a comprehensive approach built around four legislative initiatives:
•    A legislative proposal amending the Securitisation Regulation (SECR), which sets out product rules and conduct rules for issuers and investors;
•    A legislative proposal amending the Capital Requirements Regulation (CRR), which sets out the capital requirements for banks holding and investing into securitisation; and
•    Amendments to level 2 legislation, namely the Liquidity Coverage Ratio (LCR) Delegated Act , governing the eligibility criteria for assets to be included in banks’ liquidity buffer, and the Solvency II (SII) Delegated Act, governing the capital requirements for insurance and reinsurance undertakings. 

Several high-level reports (E. Letta , C. Noyer , and M. Draghi ) emphasised that the review of the securitisation framework was needed to address the existing barriers hindering the development of the EU securitisation market. In April 2024  and a year later in March 2025 , the European Council also called for the relaunch of the EU securitisation market through legislative adjustments, including through regulatory and prudential changes.

While the post-Great Financial Crisis reforms have effectively addressed concerns about risky practices and products, the EU securitisation market has since then not recovered and continues to lag behind other major jurisdictions such as the UK, US and Australia. 

In this context, the reforms put forward should support a well-functioning and vibrant securitisation market able to provide additional financing to the EU economy supporting growth and jobs and contributing to a more diversified financial system thereby making it more resilient.  

The debate will discuss the Securitisation Regulation and the Capital Requirements Regulation

Confirmed Speakers:

• Gilles Boyer, Member of the European Parliament, Shadow Rapporteur on the EU Securitisation Framework Review
• Giovanni Crosetto, Member of the European Parliament, Shadow Rapporteur on the EU Securitisation Framework Review
• Almoro Rubin-de-Cervin, Head of the Banking Regulation and Supervision Unit, DG FISMA, European Commission
• Julia Symon, Head of Research and Advocacy, Finance Watch
• Andrew Bryan, Knowledge Director, Clifford Chance
• Nathalie Esnault, Managing Director, Credit Agricole Group
• Edwin Wilches, CFA, Co-Head of Securitized Products, PGIM

Moderate by Jacqueline Mills, Member of the EPFSF Board of Directors

Don't miss this opportunity to be part of the conversation. We look forward to welcoming you!

This event is reserved for EPFSF members and EU institutions staff. For more information and registration, contact us at secretariat@epfsf.org