The Basel Committee on Banking Supervision has proposed to relax securitization capital charges will lead to meaningful reductions in capital requirements .
The ratings agency said it plans to track performance measures such as charge-off rates, delinquency rollover rates, yields and excess spread to provide insight beyond the ratings.
Losses on the portfolios behind all U.S. auto loan securitizations tracked by Standard & Poors rose in October to the highest monthly level since January. Losses in the subprime segment hit their highest level since March 2010.
The class A (2013-9) notes, which were originally sized at $500 million, pay interest of one-month Libor plus 42 basis points, according to a regulatory filing.
The Structured Finance Industry Group (SFIG) Las Vegas conference scheduled for Jan., is on track to be the largest securitization event of 2014 with an anticipated 5000 attendees.
Direct exposure to either J.C. Penney or Sears is typically highest in seasoned deals where there are only a small number of loans remaining, and one is secured by a retail property.
Banks have been slow to make credit cards available again to subprime borrowers; that's starting to change.
Card issuers are again lending to weaker borrowers; Its just a matter of time before the receivables show up in trusts.
FINRAs plan to disseminate pricing on after-market transactions in asset-backed securities through TRACE should transform the market.
Many banks in the auto lending business have been making investments that they hope will give them a more enduring edge; to the extent that bank are less likely to securitize these loans, this could impact securitization volume.