The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Structured finance: Volumes rocket, up for fourth year in a row

It has been a glorious first half of the year for global structured finance, with volumes outperforming the plain vanilla universe for the fourth year in a row. The total rocketed up by more than a quarter, to $1.2 trillion from $944.6 billion during the first half of 2004.

It was a similar, but even more impressive, story for global ABS volumes, which reached $589 billion during the first half of 2005, a 37% increase on the first six months of 2004. This represents 19% of global debt issuance, compared with 15% during the comparable period a year ago. US home equity loan transactions are mostly responsible for the increase and more than ever is sold into Europe. London-based syndicate officials think that between 40% and 60% of HEL paper is sold offshore.

Hot market

In Europe, although RMBS continues to dominate, providing nearly 60% of activity, the CMBS market is also very hot. Virtually all banks with capital markets operations are establishing loan conduits whose sole purpose is to originate commercial real estate assets for securitization. Between January and June, international CMBS came to €23 billion compared with €3 billion over the same period in 2004 and €12.7

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree