European Structured Finance 2024 Year in Review

This commentary summarises the key trends in Europe's structured finance market in 2024. As of 30 November, European structured finance issuance stood at EUR 229.9 billion, down about 4% from this time last year. In addition, 2024 marks a trend reversal from the prior two years: distributed issuance overtook retained issuance. Noteworthy securitisations this year include the first European data centre commercial mortgage-backed securities deal and the first European solar asset-backed securities deal.

"The year 2024 was a record for investor-placed issuance where supply of traditional securitisation deals was equally met with investor appetite and, in its wake, introduced asset types in European public markets not seen before, such as deals backed by home efficiency loans. The anticipation of further rate cuts next year should bode well for European consumers and give extra breathing room for the affordability of credit", said Mudasar Chaudhry, Senior Vice President, Lead, European Structured Finance Research.