ABS to continue rapid ascent


The European securitisation market is already on course to break last year's issuance records and cement its place ahead of the corporate bond market in terms of overall issuance. For the first three quarters of the year, issuance reached EUR196.2 billion, a 9.5% increase on the same period in 2004, according to European Securitisation Forum (ESF) data.

Morgan Stanley forecasts that asset-backed securities (ABS) issuance in 2005 should end up around 10-15% higher than 2004's total of EUR243.5

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