Germany aims to revive securitisation market-source
BERLIN Dec 1 (Reuters) - The German government aims to revive the market for the securisation of credit default risks to prevent a credit crisis hitting the economy, a senior government source said on Tuesday.
The government would present the idea at a meeting Chancellor Angela Merkel is hosting on Wednesday with business leaders and bankers to discuss tight credit conditions in Germany, the source said.
Under the plan, state-owned development bank KfW would facilitate the removal of credit default risks from banks' balance sheets by offering guarantees for mezzanine, or mid-level tranches of assets, the source said. (Reporting by Matthias Sobolewski, writing by Paul Carrel) ((email@example.com; +49 30 2888 5214; Reuters Messaging: rm://firstname.lastname@example.org))
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