Abstract
Securitization has played a significant role as a cause of the 2008 financial crisis. The belief in the self-regulatory function of the market disappeared given the revelation of the irresponsible behavior of stakeholders.
The natural response to this market failure became the strict regulation of the whole process, which significantly affected the volume of securitization transactions. This resulted in a shift from one extreme to the other.
The dampening of securitization transactions had a negative impact on the accessibility of credit financing, hereby constituting an adverse effect on the growth potential of the economy. An attempt to strike a balance between sufficient regulation to ensure market stability and the freedom to make the market more efficient through securitization was reflected in EU Regulation No. 2017/2402 establishing a general framework for securitization and creating a specific framework for simple, transparent and standardized securitization (known as the Securitization Regulation).
The article aims to evaluate the impact of adopted regulatory measures on the securitization market. The authors approach the designated objective through delimiting the differences of the concept of securitization from the perspective of economics and law, followed by the systematization of securitization products and the analysis of the essential points of the Securitization Regulation.