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Securitisation is the financial practice of pooling various types of debt, such as residential mortgages, car loans or credit card debt, and selling their related cash flows to third party investors as securities.

Entrevista com Klaus Regling, diretor executivo do MEE

Publicado em Jornal Economico (Portugal) a 16 Julho 2021

Entrevista feita a 9 Julho 2021

Entrevistadores: Filipe Alves and Ania Ataide

Língua original: Inglês

Jornal Economico: We would like to start by asking your opinion about the revision of the inflation target by the ECB [to 2%] announced a few days ago.

In close coordination with the European Stability Mechanism (ESM), Luxembourg's Ministry of Mobility and Public Works, represented by the Public Building Administration (Administration des bâtiments publics), is organising a Europe-wide, single-stage anonymous project competition with preliminary preselection for the design of a new headquarters for the ESM, and administrative buildings for the Luxembourg State in Kirchberg.

Greece emerged from the past debt crisis more resilient. It conducted a number of reforms, including making the public administration more efficient, simplifying licensing, streamlining procedures, and facilitating trade. As a result, the Greek economy was structurally more resilient at the start of the pandemic than it was prior to the sovereign debt crisis. Past consolidation efforts, though quite painful, enabled the country to enter the pandemic with a very healthy budgetary position.

We have created a single cloud-based banking ecosystem that enables end-to-end workflow for our trades and position keeping, linking eight critical ESM functions covering the whole trade lifecycle. The system optimises time, eliminates paperwork, and reduces operational risk regardless of differing roles and complexities of the tasks.

European Union (EU) policymakers have recognised the strategic importance of the topic, placing it high on the agenda of the upcoming March Euro summit. In addition, the European Commission has highlighted the need for more geo-political financial sovereignty. We contributed to the debate with a recently published discussion paper that takes a closer look at global financial developments.

Governments, enterprises, and investors are increasingly conscious of the sustainability risks our economies and societies face. While the Covid-19 pandemic poses a grave short-term risk, climate change presents the most severe long-term challenge.

(Luxembourg) - The European Stability Mechanism completed its first quarter funding needs on Monday, raising the full €2 billion it had targeted.

The ESM issued a new 0% 15 December 2026 bond. The spread was fixed at mid-swaps minus 11 basis points, for a reoffer yield of -0.365%. The final order book was in excess of €12.2 billion, excluding joint lead manager interest.

The joint lead managers were BNP Paribas, Citi and HSBC.