In 2008 securitization in Europe had a record year, with €711.3 billion of issuance – but practically all of it was repoed with the central banks. Experts agree that around €1 trillion of issuance has been retained in Europe since the onset of the crisis, €500 million of which has been repoed (the remainder staying on balance sheet). The UK’s SLS scheme extended to £185 billion by the time...
