AFME Securitisation Data Report, Fourth Quarter 2013

In Q4 2013, EUR 56.3 billion of securitised product was is-sued in Europe, an increase of 50.5% from Q3 2013 (EUR 37.4 billion) but a decline of 11.9% from Q4 2012 (EUR 63.9 billion). Of the EUR 56.3 billion issued, EUR 21.6 billion was placed, representing 38.4%, compared to EUR 17.1 billion placed in Q3 2013 (representing 45.7%) and EUR 27.2 bil-lion placed in Q4 2012 (representing 42.5%).

For the full year 2013, EUR 180.8 billion of securitised product was issued in Europe, of which EUR 76.4 billion was placed.

Net issuance in the fourth quarter remained negative. At the end of Q4 2013, 1.50 trillion was outstanding, of which 788.7 billion (52.5% of outstanding) was retained, presum-ably for repo or other secured financing. Since the peak in the third quarter of 2009, outstandings have fallen 33.8%.

About the Report

The AFME / ESF data report, done in partnership with AFME / ESF, is a quarterly report that consolidates both U.S. and European data for the securitisation markets:

  • issuance activity;
  • deal sizes;
  • outstanding balances;
  • rating changes;
  • credit spread changes;
  • index data;
  • ABCP issuance; and
  • highlights and commentary.

For more information on AFME’s efforts in the European structured finance sector, please visit AFME.

Credits

AFME / ESF

  • Managing Director: Richard Hopkin
  • Associate: Vicenzo Anghelone

SIFMA Research

  • Managing Director, Director of Research: Kyle Brandon
  • Director, Research: Sharon Sung