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Clifford Chance

Clifford Chance


LCR and Securitisation – 2B or not 2B

6 November 2014

The European Commission has now published the final draft of the Commission Delegated Regulation with regard to liquidity coverage requirement (the "LCR Delegated Act"), likely to apply to EU banks from late 2015. Once approved, the LCR Delegated Act will, for the first time, create a detailed framework for a liquidity buffer required to cover their net liquidity outflows over a 30 calendar day stress period. The eligibility of a wide range of securitisation products is good news for the industry in principle. In this briefing, we explain the types of securitisation assets that will be eligible and explore the possible consequences for the securitisation markets.

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