The Bank of England’s Funding for Lending Scheme (FLS) has slowed U.K. RMBS issuance and is partly responsible for a slowdown in European securitization issuance in October, according to Standard & Poor’s.

The rating agency said today in an e-mail that investor-placed securitization issuance reached €4.1bn in the month—down 52% from last month and 56% from October 2011. Investor-placed RMBS issuance, year to date, totaled €58bn, down 9% from 2011.

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