Bank pillar 3 disclosures show that the French banking giant more than doubled its securitisation exposure over the last 12 months.

‘Securitisation is back’ was our sub-headline when we last reviewed bank pillar 3 filings from the end of 2018, observing that total exposures had increased by $48 billion during the year. Half a year on, the trend has accelerated, with $120 billion of new exposures added in the last twelve months to the balance sheets of the 11 systemically important banks we monitor.