Draghi’s ABS Plans Signal Clash With Regulators: Credit Markets
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Mario Draghi is on a collision course with regulators as he seeks to revive Europe’s asset-backed debt market to boost lending to businesses.
The European Central Bank president said yesterday regulators are holding back the market he wants to use to spur economic growth. Policy makers are frustrated by the Basel Committee on Banking Supervision’s demands that investors increase the capital they hold to absorb losses on the debt.