ECB Seeks to Speed Up Approvals for SRT Deal as Demand Grows
- Pilot program for new process to commence in January
- Banks could see prescribed period for submissions shortened
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The European Central Bank is seeking to accelerate its approval process for significant risk transfers, according to people familiar with the matter, helping lenders to take advantage of booming demand for the deals.
Under new proposals, banks will be allowed to submit information for their SRT transactions to the ECB just two weeks ahead of deal completion, said the people, who asked not to be identified because they’re not authorized to speak publicly about the matter. This compares with the current requirement for a minimum of three months, said the people.