Press release

19 November 2018

Euro area financial vehicle corporation statistics: third quarter of 2018

  • In the third quarter of 2018 the outstanding amount of debt securities issued by euro area financial vehicle corporations (FVCs) engaged in securitisation decreased to €1,426 billion, from €1,433 billion at the end of the previous quarter.
  • Net redemptions of debt securities by FVCs during the third quarter of 2018 amounted to €9 billion.
  • Euro area FVCs' holdings of securitised loans stood at €1,254 billion at the end of the third quarter of 2018; the net disposals of securitised loans held by FVCs amounted to €7 billion.

Chart 1

Debt securities issued by euro area FVCs

(EUR billions; not seasonally adjusted)

Data for debt securities issued by euro area FVCs

The outstanding amount of debt securities issued by euro area FVCs was €1,426 billion at the end of the third quarter of 2018, €7 billion lower than at the end of the previous quarter. Over the same period, transactions amounted to a net redemption of €9 billion. The annual growth rate of debt securities issued, calculated on the basis of transactions, increased to 2.4% in the third quarter of 2018, from 1.9% in the previous quarter.

Euro area FVCs' holdings of securitised loans – accounting for most of the assets backing the debt securities issued – decreased to €1,254 billion at the end of the third quarter of 2018, from €1,262 billion at the end of the previous quarter, mainly accounted for by net disposals of €7 billion. Net disposals of securitised loans originated by euro area monetary financial institutions (MFIs) amounted to €17 billion.

Chart 2

Loans securitised by FVCs by originator

(Quarterly transactions in EUR billions; not seasonally adjusted)

Data for loans securitised by FVCs by originator

Turning to the borrowing sector of securitised loans, loans to euro area households amounted to €759 billion at the end of the third quarter of 2018, with a net disposal of €23 billion during the third quarter of 2018 while loans to euro area non-financial corporations amounted to €336 billion, with a net acquisition of €7 billion.

Among the other assets of euro area FVCs, deposits and loan claims amounted to €184 billion at the end of the third quarter of 2018, predominantly claims on euro area MFIs (€105 billion). There was a net disposal of deposits and loan claims during the quarter of €1 billion. Holdings of debt securities amounted to €241 billion at the end of the third quarter 2018, while net acquisitions amounted to €3 billion. Other securitised assets held by FVCs – including for example trade, tax and other receivables – amounted to €104 billion, with net acquisitions of €2 billion during the quarter.

Annex

For media queries, please contact Stefan Ruhkamp, tel.: +49 69 1344 5057.

Notes

  • The hyperlinks in the main body of the press release and in annex tables are dynamic. The data they lead to may therefore change with subsequent data releases as a result of revisions. Figures shown in annex tables are a snapshot of the data as at the time of the current release.

Media contacts