The European securitisation market, which was at a near-standstill during the six months to the end of March, appeared to reignite last month as central bank activity and balance-sheet repairs fuelled record issuance.

In a Deutsche Bank report today, Ganesh Rajendra, head of European securitisation research in London, wrote that “on the face of it”, primary volumes in the securitisation market totalled €40bn ($62bn) in April, up 50% on the same month a year ago.