European securitisation issuance has had a strong start to the year, with issuance up year-on-year in the first quarter of 2022, according to the Association for Financial Markets in Europe’s (AFME’s) securitisation data snapshot.
In the first quarter, €64.3bn of securitised product was issued in Europe, an increase from €48.9bn in the first quarter of 2021.
Of the total securitised issuance in the first quarter of 2022, €32.1bn was placed, compared with €30bn over the same period last year.
European-placed issuance in the first quarter of 2022 was led by UK residential mortgage-backed securities (RMBS) deals, followed by pan-European collateralised loan obligations (CLOs) and German auto asset-backed securities (ABS) deals.
UK RMBS issuance increase from €4.9bn in the fourth quarter of 2021 to €14.1bn in the first quarter of 2022, while pan-European CLOs almost halved from €20.2bn to €10.2bn and German auto ABS issuance decreased from €2.7bn to €1.7bn over the same period.
