Prime Collateralised Securities

Capital - capital requirements - supervision - regulation - financial services.

(PCS).

Prime Collateralised Securities (PCS) is an independent not-for-profit body that acts as a verification agent for STS securitisations across Europe.

It was established in 2012 with the aim of assisting in reviving the European securitisation market on a safe and sound basis, following the global financial crisis of 2007-09.

Capital relief for STS is insufficient: PCS

"In September 2024, Draghi recommended changes to revitalise EU securitisation and CMU [including]:

• a cut in current STS capital charges that exceed corresponding actual risks – a bone of contention shared with PCS, which says the growth of EU securitisation is being held back not by the high standards of the STS (simple, transparent and standardised) regime, but by insufficient capital relief for the STS transactions..."

Mario Draghi, former president of the European Central Bank - quoted in The Treasurer - Issue 4 of 2024, p18.

See also

• Agent
• Capital adequacy
• Capital charge
• Capital markets union (CMU)
• Capital relief
• Capital Requirements Directive (CRD)
• Capital Requirements Regulation (CRR)
• Collateralise
• Corporate treasury
• European Central Bank (ECB)
• Global Financial Crisis (GFC)
• Insurance
• Insurance Capital Standard
• Microprudential
• Not-for-profit
• Prime
• Regulatory capital
• Risk Weighted Assets (RWAs)
• Securitisation
• Security
• STS
• Supervision
• Treasury

Other resource

• The PCS Initiative - About us