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Prime Collateralised Securities (PCS) is an industry-led, nonprofit project to develop a label for high quality securitisations which meet best practice in terms of quality, transparency, simplicity, and standardisation. This project was launched by the Association for Financial Markets in Europe (AFME) and the European Financial Services Round Table (EFR) in June 2012 with the aim of increasing the funding of real economy assets through securitisation, thereby supporting the recovery and future growth of the European economy.