An Introduction to the European Securitization Markets

Abstract

The European securitization market has grown rapidly over the past 10 years and now is a major component of the credit markets in the countries where it has become established. It can boast a wide variety of asset types from a number of countries, and the diversity of the market continues to grow. Credit performance of the major classes has been very good, and has, in general, improved over the past two years. This has also been reflected in the spread compression seen over this period.