London, 21st June 2019 – The 23rd annual Global ABS conference took place between the 11th and 13th June 2019.
Global ABS is the largest European Structured Finance conference, attracting over 4,000 delegates from a wide array of institutions; including individuals from credit rating agencies, regulatory authorities, investment banks and law firms. The discussions were largely driven by the Securitisation Regulation 2017, due to the Regulation coming into force on the 1st January 2019. These regulatory changes provided an interesting backdrop to discussions, upon which the conference enabled a unique insight into how different market participants were adapting.
European issuance in Q1 2019 had been relatively slow compared to that of Q1 2018, primarily due to the introduction of new regulations. However, macroeconomic factors are also causing a drag on the industry with a slowing global economy, an increase in trade tensions, the difficulty in forecasting the UK’s future due to Brexit and how global monetary policy will respond to the aforementioned risks. Whilst more detailed information on individual asset classes will be considered below, generally panellists were optimistic for the prospects of the securitisation market despite the risks faced.