Newsletter December 2008: Global joint initiative to revive securitisation market

NEW YORK/LONDON – Representatives of the battered and much reduced global securitisation industry unveiled plans in early December to try and restore confidence to their market and address the damaging deficiencies that have contributed to the 17-month old financial crisis. Four industry associations – the Securities Industry and Financial Markets Association (SIFMA), the American Securitisation Forum (ASF), the European Securitisation Forum (ESF) and the Australian Securitisation Forum (AuSF) – combining in a Global Joint Initiative to Restore Confidence in the Securitisation Markets, presented their assessment of the market outlook and the threat posed to world economic growth if their market does not recover.