21
May
2026
Watch
Amending Regulation (EU) 2017/2402 on securitisation and a specific framework for simple, transparent and standardised securitisation (A10-0138/2026 - Ralf Seekatz) (vote)
Mr President, ladies and gentlemen, securitisation is the practice that allows banks to package thousands of home loans and sell them on the financial markets. It was also the same product that triggered the 2008 financial crisis, leading to the bankruptcy of tens of thousands of businesses and bringing tens of thousands of families to the streets. Following the crisis, we agreed on clear rules so that we would never again have to save private banks with big public money. However, today, this is precisely what we are being proposed to send to trilogues without debate and without a vote: A text that recreates the conditions that led to this collapse. The European Central Bank warns us that the level of protection will be lower than before 2008. The European Systemic Risk Board is concerned about financial stability and we would rather ignore these warnings? So let's be clear: The text presented today is basically a new gift to the banking sector, which is seeing its dividends explode. Ladies and gentlemen, behind the financial arrangements are human lives. So, allow this assembly to speak and everyone to take their vote.