The European Banking Authority (EBA) set out a detailed framework for classifying high-quality securitisations in a consultation paper published yesterday.

The recommendations form part of a wider effort in Europe to jump-start the moribund securitisation market – or at least the parts of it that are deemed "simple, standard and transparent".

Other, riskier, securitisations played a central role in bringing about the global financial crisis. Regulators are keen to see these instruments kept