The Securities Industry and Financial Markets Association (SIFMA) recently released its annual U.S Securitization Year in Review report. The report offers a consolidated review of the U.S securitization markets in 2015 and is comprised of two sections. The first section captures various securitization market trends, statistics and market activity for 2015. The second section contains summaries of various governmental and regulatory policy issues that impacted the securitization markets in 2015, as well as SIFMA’s advocacy efforts regarding those issues last year.
Securitization issuance, including agency and non-agency mortgage-backed securities (MBS) and asset-backed securities (ABS), totaled $1.9 trillion in 2015, a 19.8 percent increase from 2014 ($1.6 trillion). The increase was driven entirely by agency and non-agency MBS issuance, since ABS issuance volumes fell by 14.1 percent year-over-year (y-o-y).
Outstanding volumes rose to $10.1 trillion, an increase of 0.4 percent y-o-y, driven by agency MBS, agency collateralized mortgage obligations (CMOs) and ABS, while non-agency outstanding volumes fell 7.2 percent y-o-y.
Average daily trading volumes were $196.7 billion in 2015, an increase of 7.4 percent y-o-y, driven by agency MBS trading. Non-agency MBS and ABS volumes fell 17.1 percent and 3.1 percent, respectively, y-o-y.
For the full text of the report, reference the SIFMA Securitization Report for 2015 here.