With regard to the ECB announcements today and with particular reference to the statement of intent on ABS asset purchases:-
When questioned by reporters about what sort of ABS was acceptable, ECB President Mario Draghi reiterated several times that they need to be:
- Real (loans, not derivatives, etc.) and
- Transparent - so underwriters and traders can get information on what they are buying
In response to this and to the BoE and ECB joint consultation document released last Friday, EuroABS has this week decided to release its entire database of European ABS documentation - prospectuses, bond data and collateral reports for all public issuance since 1995, collected over nearly 2 decades - with free access for the whole market.
Selling this data is not a core revenue-generating exercise for EuroABS, but we have the database in order to be able to serve our clients in regulatory compliance and valuation. We hope that the release of this comprehensive data set will help with transparency requests and these announced initiatives.
This will also be promoted at the annual ABS conference in Barcelona next week.