BNPL Loan Securitization – A 2008 Credit Default Swap Crisis Déjà vu?

Paypal Europe recently announced that it has offloaded 40Billion Euros worth of BPNL loans from its balance sheet to private equity firm KKR. Does this signify a fear among BPNL Loan originators thta a credit crisis may coming soon? This may have frightening similarity with the 2008 credit default swap crisis in the mortgage market.

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