Europe’s top financial services official offered a robust defence of plans to expand securitisation under the Capital Markets Union project during a European Parliament hearing, saying that it was not an attempt to “go back to before” the financial crisis.

Speaking during an exchange of views with the Economic and Monetary Affairs Committee in Brussels on October 13, Jonathan Hill, the European Commissioner for financial stability, financial services and Capital Markets Union, said that while he understood MEP's concerns over securitisation and the role such products had played in the global financial crisis, it was important to place their history in context.