Featured statistic: EUR 149 miljard

Date 28 November 2006

The balance sheet total of Dutch Special Purpose Vehicles (SPVs) continues to grow, increasing by EUR 13 billion to EUR 149 billion in the first six months of 2006 (see chart).

Graphic Balance sheet Special Purpose Vehicles

Having accelerated in the past four months, the growth rate now stands at 38%.

This growth is primarily accounted for by the ongoing securitisation of mortgage portfolios. In the first six months, Dutch enterprises conducted twelve securitisation transactions. Ten of these concerned mortgages and, in all cases, led to a decrease in the balance sheet total of the securitizing party, the so-termed originator. At present, 19% of all mortgages (EUR 96 billion) in the Netherlands are securitized. In the other two cases, the securitization concerned corporate credits or export credits. The largest securitization transaction in this period was conducted by ABN AMRO Bank (EUR 4 billion).