Senior bankers from HSBC’s Stuart Gulliver to Anshu Jain at Deutsche Bank have stressed the importance of a healthy securitisation market to the wider industry recovery - but despite a marked improvement this year, concerns remain that issuance is still too low at a time when banks are looking to transfer more risk off their books.

Analysts at Société Générale have predicted in their 2011 outlook that issuance of securitsed products will hit €100bn in Europe next year, up from the roughly €70bn in 2010. Of last year's total, Barclays Capital estimates that only €30bn of that was placed on the public markets, with the remainder sold to private investors or retained by the issuing banks for use as collateral.