A report by Moody's Investors Services, last year confirmed the UK and Ireland as the biggest player in the European structured finance market with Ђ59bn of issuance volume.
There will be steady growth in the volume of securitisations in 2003, added the report.
"In 2002, the mature UK securitisation market grew by 5 per cent overall, with continued activity across all asset classes," says Judith Seymour, Moody's senior analyst and author of this report.
In its review of 2002, Moody's noted that after a slow start in UK issuance at the start of the year, investor appetite soon rallied and supported the volumes of issuance throughout 2002. This upturn in issuance was based on investors' recognition of the UK economy's continued strength, especially when compared to some of its European neighbours, as well as the UK's established legal, regulatory and banking rules governing securitisation.
