Placements have averaged € billion a year since 2009, with peaks of over € billion in 2009 and 2012, when it was hardest to access bank credit (Figure 11). Issuance was substantial in 2013 as well, amounting to € in the first nine months.
References:  4/5  BIS - Central bankers' speeches  Ulrich Bindseil and George Pantelopoulos, Towards the holy grail of cross-border payments. ECB Working Paper 2693. Lael Brainard, Crypto-Assets and Decentralized Finance through a Financial Stability Lens. Speech at Bank of England Conference, London, 8 July 2022, https://www. federalreserve.gov/newsevents/speech/brainard20220708a.htm  The Future Monetary System.