Rumours of Europe's first marketplace-lending
securitisation gathered pace last month. The instrument, which
securitises loans made on voguish peer-to-peer lending
platforms is already doing business in the US, and has been
since 2013. On the one hand, the logic for such an instrument
in Europe is clear: The European Commission is determined to
kick-start the securitisation market and any so-called
marketplace ABS would certainly offer welcome volumes, albeit
relatively small ones.
And with lending to small and medium-sized enterprises
(SMEs) in short supply...