Securitisation, the financial technique that helped bring the world economy to its knees, is losing its stigma. Central bankers are saying nice things about it (the Bank of England’s Andrew Haldane called it “a financing vehicle for all seasons”) and it is widely viewed as a means to help banks deleverage while simultaneously providing the economy with finance and investors with high-yielding assets. This makes securitisation a potential win-win-win.

But in this crucial year - with the finalisation of three European regulations that will effectively decide the fate of the sector - the competing interests of the three most interested parties (politicians, banks and investors) could derail the rehabilitation. Unless everyone pulls in the right direction, securitisation could remain in the wilderness.