The numbers may not be enough to turn heads, but French securitizations offer a variety in assets that are as varied as the many wine and cheeses throughout the different regions of its country. And while its volume may not amass to 2001 numbers seen in Italy and the Netherlands, 2001 is regarded as a good year for the French securitization market, with more to come in 2002.

"Clearly the growth in France cannot be accounted as the most explosive in Europe," said one market participant. "France did well but not extraordinary; it exhibited stable performance but it is regarded as the most diversified in asset transaction type and it is clearly one of the more balanced countries in Europe."

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