Quarterly European Securitisation Issuance Report—Q2 2024

This is Morningstar DBRS’ quarterly report covering European securitisation issuance and trends in the preceding quarter. The European securitisation markets began 2024 on good footing. Although the second quarter of 2024 has seen an overall positive sentiment in terms of higher distributed issuance, the market continues to remain cautiously optimistic. Total issuance in H1 2024 stood at EUR 111.4 billion.

The sectors at the forefront were primarily residential mortgage-backed securities (RMBS) led by the UK, consumer asset-backed securities (ABS), and auto ABS. For 2024 our total aggregated issuance forecast remains unchanged at EUR 210 billion to EUR 220 billion; however, we do expect a higher distributed issuance close to EUR 110 billion, approximately 50% to 55% of total issuance.