In an article published today, the Financial Times reports on 2013 securitisation issuance volumes published by the Association for Financial Markets in Europe (AFME). These showed another marked decline especially compared to the strongly recovering US figures. The article recalls the PCS warning of a few months ago that one cannot rule out a market implosion if volumes continue to drop. These worrying figures underline the increasing gap between the wishes of European policy makers to see securitisation assist in funding a European recovery and the facts on the ground. The article can be found here (behind a paywall)