Consumer ABS

Monex Credit Co. (MCC) will issue $75 million of precious metal backed notes.

Automotive Rentals (ARI) plans to issue a $453 million ABS backed mostly by fleet lease contracts for light trucks and cars.

National Bank of Canada plans to issue $419 million credit card receivables backed notes from its Canadian credit card trust.

Auto dealership advocates are warning that costs will rise for borrowers if the Consumer Financial Protection Bureau presses banks to curtail auto loan markups determined by dealers.

The recently announced merger of American Airlines and US Airways may create new risk for credit card securitizations tied to the airlines brand, according to two reports published this month by Moody’s Investor Service and Standard & Poor’s.

The performance of securities backed by both prime and subprime U.S. auto loans improved in January, according to Fitch Ratings.

Fifth Third priced $500 million of notes backed by auto loans; a $155 million, triple-A class with a WAL of 1.15 years priced at nine basis points over the Eurodollar synthetic forward rate;

General Electric Capital Corp. priced $900 million of notes backed by credit card notes backed by credit card receivables on Tuesday afternoon, according to a U.S. Securities and Exchange Commission filing.

Fifth Third Bank is in the market with $500 million of notes backed by prime retail auto loans, according to rating agency presale reports; it is the lender's first securitization since 2008.