AFME is pleased to circulate the European Securitisation Data Snapshot for Q4 2023 and 2023 Full Year.

Key highlights:

Q4 2023 European Issuance

• In Q4 2023, EUR 42.2 bn of securitised product was issued in Europe, an increase of 6.5% from Q3 2023 (EUR 39.6 bn) and a decrease of 35.6% from Q4 2022 (EUR 65.5 bn).

• Of this, EUR 28.4 bn was placed, representing 67.3% of the total, compared to EUR 26.1 bn placed in Q3 2023 (representing 65.8% of EUR 39.6 bn) and EUR 11.6 bn placed in Q4 2022 (representing 17.7% of EUR 65.5 bn).

• In Q4 2023, Pan-European CLOs led placed totals, followed by UK RMBS and German Auto ABS:

  • Pan-European CLOs increased from EUR 6.5 bn in Q3 2023 to EUR 7.9 bn in Q4 2023;

  • UK RMBS decreased from EUR 6.0 bn in Q3 2023 to EUR 5.4 bn in Q4 2023; and

  • German Auto ABS increased from EUR 2.3 bn in Q3 2023 to EUR 2.7 bn in Q4 2023.

2023 Full Year European Issuance

• In 2023, EUR 213.1 bn of securitised product was issued in Europe, an increase of 4.8% from the EUR 203.3 bn issued in 2022.

• Of this, EUR 94.6 bn was placed, representing 44.4% of the total, compared to EUR 79.7 bn placed in 2022, representing 39.2% of the total.

• In 2023, PanEuropean CLOs led placed totals (EUR 25.8 bn) followed by UK RMBS (EUR 22.9 bn) and German Auto ABS (EUR 11.1 bn).