Although the French securitization market has been slow this year, observers say two particularly interesting deals are giving ideas to other potential issuers. Additionally, a long-anticipated amendment to French securitization law - which addresses co-mingling risk - is likely to be finalized in the next month or so, stirring hope for increased volume next year.

At least one company is looking to copy the success of Credit Logement, which recently priced its second synthetic securitization backed by French residential mortgage guarantees. In addition, several other hopefuls are interested in the structure used by the truck leasing company Fraikin, which marked a few firsts with the deal it closed this summer.

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