European securitisation up 40%
European securitisation volumes increased by 40% year-on-year in the first quarter of 2006, with mortgage-backed securities making up the largest sector of the market.
According to figures from the European Securitisation Forum, the majority of issuance was in the form of residential mortgage-backed securities (RMBS), which saw volumes of €39.4 billion, up 46.7% from the same period in 2005. RMBS also represent 59% of total issuance, up from 44% in the fourth quarter of 2005.
The ESF expects
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