Investor-placed securitization issuance for September 2024 was close to €16 billion--the second-highest monthly volume of the year so far. Overall year-to-date issuance by the end of September had reached nearly €109 billion, comfortably exceeding the most recent high of €82 billion in 2021. European benchmark covered bond issuance in September was €12.6 billion--about the 10-year average for the month. Cumulative issuance reached €131 billion year-to-date. This is down 11% on the same period in 2023 when issuance was at a decade high.