A collection of nine securities industry trade associations announced initiatives designed to enhance transparency in the European securitization market.

The European and global trade associations released 10 initiatives to increase transparency in response to the European Council of Finance Ministers’ call to “enhance transparency for investor, markets and regulators” by “mid-2008”.

The 10 initiatives include two that are in direct response to the ECOFIN Roadmap: drafting good practice guidelines on securitization disclosures; and, the creation of a new, quarterly industry report, which provides comprehensive statistical data on EU and U.S. securitization markets.

However, the industry initiatives also go beyond the transparency requests specifically listed in the ECOFIN Roadmap, with eight additional issuer and investor focused initiatives designed to standardize issuer disclosure practices, broaden and facilitate investor access to transaction information, enhance usability and comparability of information, and strengthen investor good practice.

These initiatives are being coordinated on a global basis with other industry groups to the maximum extent possible, are also consistent with recommendations of the Financial Stability Forum and the International Organization of Securities Commissions on transparency, the groups said.

The nine associations are: Commercial Mortgage Securities Association; European Association of Co-operative Banks; European Association of Public Banks and Funding Agencies; European Banking Federation; European Savings Banks Group; European Securitisation Forum; International Capital Market Association; London Investment Banking Association and the Securities Industry and Financial Markets Association.