Irish Securitisation Vehicles Up 10.5% YoY
Net increase in active Irish securitisation vehicles over the year to end-June 2024, inclusive of both incorporations and liquidations. Source: Atlantic Star Analytics
Ireland's securitisation sector has demonstrated considerable growth over the past year, solidifying the domicile’s position as a key location in global financial markets. According to the latest data from Atlantic Star Analytics’ Irish SPV Tracker report (June 2024 edition), there has been a notable increase in the number of active Special Purpose Vehicles (SPVs) within the securitisation category, reflecting the jurisdiction's popularity for locating structured finance transactions.
As of the end of June 2024, there were 1,538 active securitisation SPVs domiciled in Ireland, representing a significant 10.5% net increase from the 1,392 active vehicles recorded in June 2023. This rate of growth was almost three times higher than the 3.6% increase seen in the prior 12 month period.
June 2024 saw the incorporation of 11 new securitisation SPVs, contributing to a total of 236 new incorporations within this sector over the past 12 months. There was a net increase of 148 SPVs over this period once liquidations are taken into account, significantly higher than the 48 net increase in the prior period. This steady expansion highlights the ongoing strength of the Irish securitisation sector, even amidst global economic turbulence.
The prominence of securitisation vehicles within the broader SPV landscape is particularly noteworthy. Securitisation SPVs now account for more than 35% of all active SPVs in Ireland, underscoring the country’s central role in structured finance within Europe.
This growth is indicative of Ireland’s robust servicing infrastructure and stable regulatory and tax framework, which continue to attract a wide range of international financial services activities.
Access to the Irish SPV Tracker is available for all Irish SPV Analytics clients, and can be found on the Reports tab in the client portal. Existing clients can log in here: Atlantic Star Analytics Client Portal.
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Note - The Irish SPV Tracker uses proprietary Atlantic Star Analytics data, this differs from the quarterly Irish SPV Report which uses Central Bank of Ireland/ECB data.