Euro area financial vehicle statistics: fourth quarter 2021

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February 18, 2022

Chart 1

Debt securities issued by euro area venture capital vehicles

(in billions of euros; not seasonally adjusted)

Data on debt securities issued by euro area front companies

Outstanding debt securities issued by euro area front companies stood at €1,714 billion at the end of the fourth quarter of 2021, €88 billion more than at the end of the quarter previous. Over the same period, transactions represented a net issue of 89 billion euros (see graph 1). The annual growth rate of debt securities issued, calculated on a transaction basis, increased to 5.8% in the fourth quarter of 2021, from 3.4% in the previous quarter.

Eurozone front companies’ holdings of securitized loans – representing the bulk of assets backing debt securities issued – increased to €1.301 billion at the end of the fourth quarter of 2021, from €1.254 billion. euros at the end of the previous quarter. The variation is mainly explained by net acquisitions of 34 billion euros (see graph 2). Net acquisitions of securitized loans issued by monetary financial institutions (MFIs) in the euro area amounted to €27 billion.

Chart 2

Loans securitized by GCFs by originator

(quarterly transactions in billions of euros; not seasonally adjusted)


Data on loans securitized by GCFs by originator

Turning to the securitized lending lending sector, lending to households in the euro area amounted to €768 billion at the end of the fourth quarter of 2021, with a net acquisition of €2 billion during the fourth quarter 2021, while loans to non-financial corporations amount to €393 billion, with a net acquisition of €26 billion.

Among other assets of euro area front companies, deposits and loan claims amounted to €189 billion at the end of the fourth quarter of 2021, mainly claims on euro area MFIs (€99 billion). euros). There was also a net acquisition of deposits and receivables of €9 billion during the quarter. Debt securities holdings amounted to €457 billion at the end of the fourth quarter of 2021, while net acquisitions amounted to €27 billion. Other securitized assets held by FVCs – including for example trade, tax and other receivables – amounted to €116 billion, with net acquisitions of €9 billion during the quarter.


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Remarks

  • Hyperlinks in the main body of the statistical release and in the tables in the appendix lead to data that may change with subsequent releases as a result of revisions. The figures presented in the tables in the appendix are a snapshot of the data at the time of current publication.
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