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Banks should keep 20 percent stake in securitizations, Finance Watch’s Nijdam says

( June 13, 2016, 16:29 GMT | Official Statement) -- MLex Summary: Banks should be required to hold a 20 percent interest, up from 5 percent in current law, in loans that they packaged into securities for sale to investors, said Christophe Nijdam, secretary general of Finance Watch, a group seeking to counter the influence of the industry over policy. At a European Parliament hearing on a bill to overhaul securitization, Nijdam said that categorizing asset-backed securities into risk tranches makes them too complex for safe investment. He urged lawmakers not to permit “synthetic” deals that don’t completely transfer ownership of loans to the investors.The speech follows....

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