Draft cédulas disclosure rule gets qualified approval
Monday, September 6, 2010
The Bank of Spain is introducing a new regulation requiring that Spanish issuers disclose detailed information on assets backing cédulas. Moody’s today (Monday) said that this should increase investors’ confidence in assessing credit risk and lower borrowers’ funding costs, even if it said that there is room for improvement, and other market participants gave qualified approval of the initiative.
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