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By Alexander KASTENDEUCH, Partner, Banking Capital Markets, German Markets Leader Patrick LOCH, Senior Manager, Banking Capital Markets, EY Luxembourg
Securitization is transitioning from a specialized financing technique into a mainstream pillar of Europe’s capital markets.
In 2025, structural trends — shifting policy priorities, regulatory reform, market innovation, and the rise of new asset classes — are converging to elevate securitization’s role in channeling savings into productive investment.
Germany illustrates this dynamic: despite high savings rates, households favour deposits over investments, leaving the economy heavily dependent on bank lending—around 80%, compared with just 20% in the U.S....
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