A Fitch Ratings report, 2013 Outlook: Australia and New Zealand Structured Finance and Covered Bonds, forecasts that structured finance issuance in Australia could grow by 20 per cent or more over the volume of issuance seen in 2012. Fitch says structured issuance last year totalled A$18.5 billion, of which residential mortgage-backed securities accounted for A$13.4 billion.These figures are slightly below DCM Review's estimate for the period of A$20.8 billion and A$14.1 billion respectively. Like other ratings agencies, Fitch may not count issuance it has not rated.Fitch is forecasting growth 10 per cent to 20 per cent for 2013, based on expectations of further spread contraction attracting greater issuance. Non-bank issuers should become more prominent with both prime and subprime RMBS issues undertaken.Asset-backed issues are also expected to increase.