A rise in esoteric assets is expected for 2002, which signals that European ABS is healthy, says Moody's Investors Service in a report issued last week, but whilst ABS volumes are expected to be robust, numbers may not reach the record-breaking volumes of 2001.

According to the report, the European ABS market experienced a year-over-year growth rate of 126% year. Volumes rose to EURO42.1 billion in 2001 with the total number of European ABS transactions issued rising by more than 50% to 67 from the 44 seen in 2000. The increase is largely attributed to the number of jumbo transactions' (deals that surpass EURO1 billion) hosted last year that rose to 10 from the two seen in 2000.

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