Consumer ABS

The Class A CHASEseries (2016-2) Notes are being issued by JPMorgan’s Chase Issuance Trust, a filing with the Securities and Exchange Commission states. The Class A notes are due 2021.

Speaking at an industry conference Thursday, the heads of several big banks — including JPMorgan Chase, Bank of America and U.S. Bancorp — warned of looming deterioration in their loan books.

The pricing of student loans, and higher-ed degrees themselves, should have more to do with the proven earning power of a university’s graduates in the eyes of some innovators. Big data could play a huge role.

The bonds are being issued through Harley-Davidson Motorcycle Trust 2016-A in a five-tranche notes structure, according to the filing with the Securities and Exchange Commission on Tuesday. The notes are backed by a pool of loans with a principal balance of $450 million.

U.S. banks are taking bigger risks in auto lending as they compete for market share in a sector that remains red-hot.

The Obama administration and an independent federal banking agency are advising the Supreme Court not to review a lower-court ruling that has roiled the marketplace lending sector and caused consternation throughout much of the consumer finance industry.

In a report published Tuesday, Wells said that retailer loans held by collateralized loan obligations are performing as well, if not better, than most of other loans in CLO portfolios, outside of the oil and gas industries. In addition, only 8% of retail loans in CLOs are trading under $80.

The Synchrony Credit Card Master Note Trust is issuing a $650.6 million notes offering including $547 million in Class A and Class B notes to be issued with 27% and 20% credit enhancement, respectively. That mirrors, to the dollar, its previous private-label credit card securitization in March.

A committee convened by the Federal Reserve to examine potential replacements for widely used interbank offered rate benchmarks has published its interim conclusions, identifying two potential alternatives.

BPCE Group, France’s second-largest bank, is pooling together €5 billion (U.S.$5.6 billion) worth of personal consumer loans into a securitization portfolio, including a mix of auto, cash, home improvement and debt consolidation loans.