CDOs/CLOs

Following its recent equity IPO, Irvine, Calif.-based lender Encore Mortgage Corp. came to market with its first stand-alone securitization last week, a whopping $1.6 billion home equity deal last week.

Last week Capital One Financial Corp. announced plans to acquire New Orleans-based retail bank Hibernia Corp. for $5.3 billion, and though the move will undoubtedly give Capital One more liquidity and funding access, there is doubt as to what the future holds for the company's credit card ABS issuance volume.

Year to date as of 03/10 Term (days) 03/04 03/07 03/08 03/09 03/10 1-week

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Credit Suisse First Boston 2,663.9 1 17.0 4 Citigroup 2,477.0 2 15.8 4 Barclays Capital 2,116.5 3 13.5 4 Deutsche Bank AG 2,027.7 4 12.9 3 Merrill Lynch & Co Inc 2,022.8 5 12.9 3 Wachovia Corp 1,580.0 6 10.1 3 Goldman Sachs & Co 1,289.0 7 8.2 1 JP Morgan 989.9 8 6.3 2 Banc of America Securities LLC 515.0 9 3.3 1 Industry Total 15,681.7 - 100.0 13 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Merrill Lynch & Co Inc 3,944.8 1 30.9 5 Morgan Stanley 2,960.7 2 23.2 10 UBS 2,322.2 3 18.2 4 Credit Suisse First Boston 889.0 4 7.0 3 Lehman Brothers 751.1 5 5.9 3 JP Morgan 685.0 6 5.4 1 Wachovia Corp 681.0 7 5.3 2 Bear Stearns & Co Inc 370.3 8 2.9 1 Banc of America Securities LLC 169.0 9 1.3 2 Industry Total 12,773.1 - 100.0 29 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Morgan Stanley 1,579.0 1 58.9 1 Citigroup 875.0 2 32.6 1 Banc of America Securities LLC 61.2 3 2.3 2 ABN AMRO 43.6 4 1.6 1 Merrill Lynch & Co Inc 43.6 4 1.6 1 JP Morgan 43.6 4 1.6 1 Deutsche Bank AG 17.6 7 0.7 1 Barclays Capital 17.6 7 0.7 1 Industry Total 2,681.1 - 100.0 4 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Lehman Brothers 725.8 1 30.4 1 JP Morgan 725.8 1 30.4 1 Barclays Capital 725.8 1 30.4 1 Citigroup 212.0 4 8.9 1 Industry Total 2,389.5 - 100.0 2 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Deutsche Bank AG 10,810.8 1 11.3 17 Morgan Stanley 10,411.8 2 10.8 12 Royal Bank of Scotland Group 8,746.5 3 9.1 16 Lehman Brothers 8,566.3 4 8.9 22 Credit Suisse First Boston 8,509.2 5 8.9 21 Bear Stearns & Co Inc 8,467.3 6 8.8 16 Countrywide Securities Corp 7,336.0 7 7.6 7 Merrill Lynch & Co Inc 6,973.3 8 7.3 8 Citigroup 6,047.5 9 6.3 13 Banc of America Securities LLC 3,935.9 10 4.1 9 Industry Total 96,043.0 - 100.0 143 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Banc of America Securities LLC 2,368.0 1 21.5 3 Citigroup 1,830.0 2 16.6 3 Credit Suisse First Boston 1,645.9 3 14.9 2 Morgan Stanley 1,540.6 4 14.0 1 UBS 1,447.2 5 13.1 3 Lehman Brothers 1,012.4 6 9.2 1 Deutsche Bank AG 817.2 7 7.4 2 JP Morgan 317.2 8 2.9 1 Goldman Sachs & Co 40.0 9 0.4 1 Industry Total 11,018.5 - 100.0 9 Source: Thomson Financial

auto ABS 18% credit card ABS 2% enterprise finance ABS 0% equipment ABS 1% global MBS 7% real estate ABS 60% stranded cost ABS 2% student loan ABS 9%