Enabling sovereign bond-backed securities
This briefing analyses the IA accompanying the legislative proposal of the Commission to enable market-led sovereign bond-backed securities (SBBS). The problem definition and the objectives of the IA do not follow entirely the better regulation guidelines. Nevertheless, the policy options, including the baseline scenario, seem logical and pertinent, lacking, however, necessary specification and precision. The assessment focusses on direct effects on the euro-area sovereign bonds market, expecting no direct social or environmental impacts. The IA does not include the mandatory 12-week public consultation nor a comprehensive cost and benefit assessment of the initiative. It also omits, without explanation, a number of relevant issues, so that it seems like a missed opportunity to provide comprehensive and transparent support to evidence-based policy making.
Briefing
À propos de ce document
Type de publication
Auteur
Mot-clé
- analyse économique
- Autorité européenne des marchés financiers
- droit de l'Union européenne
- emprunt public
- FINANCES
- finances publiques et politique budgétaire
- institutions de l'Union européenne et fonction publique européenne
- libre circulation des capitaux
- obligation financière
- proposition (UE)
- relations monétaires
- risque financier
- réglementation financière
- stabilité financière
- surveillance financière
- union bancaire de l’UE
- UNION EUROPÉENNE
- zone euro
- ÉCONOMIE
- économie monétaire
- étude d'impact