AFME is pleased to circulate its Q3 2021 Securitisation Data Report.

Main findings:

• In Q3 2021, EUR 47.6 bn of securitised product was issued in Europe, an increase of 30.8% from Q2 2021 and an increase of 18.2% from Q3 2020.
• Outstanding volumes (ex-CLOs) decreased to EUR 969.9 bn at the end of Q3 2021, a decrease of 0.25% QoQ and a decrease of 1.59% YoY.
• Credit Quality: In Europe, upgrades comprised 87% of total rating actions during Q3 2021, compared to 84% of total rating actions during Q2 2021.
• STS issuance: In Q3 2021, EUR 12.8 bn of total (placed and retained) securitised product was notified as Simple Transparent and Standardised (STS) to ESMA, representing 26.9% of total issued volume in Q3 2021 (EUR 47.6 bn). Out of the EUR 12.8 bn in STS issuance, EUR 7.9 bn was placed, representing 34.2% of total placed issuance in Q3 2021 (EUR 23.1 bn)