Consumer ABS

Consumer Portfolio Services closed on its fourth subprime auto loan securitization of the year; CPS Auto Receivables Trust 2012-D issued a total of $166 million of notes in five classes.

J.P. Morgan on Monday priced $900 million of five-year notes backed by credit card receivables via its Chase Issuance Trust, according to a regulatory filing.

CNH Capital America filed a registration with the Securities and Exchange Commission to issue a $20 million equipment trust asset backed securitization.

Standard & Poor’s today projected that securitizations of credit card receivables in the U.S. should hit $40 billion in issuance in 2013.

A couple of ABS deals have joined the pipeline this week.Santander, for its part, has a $791 million auto deal coming down the pike.

Although the securitization market is still struggling to regain its post-crisis footing, there are glimpses of hope. In this month's cover story, for instance, Nora Colomer explores a potential source of new deal flow.

One of the few positive outcomes of the financial crisis has been the strong performance of consumer ABS, which has become the gift that keeps on giving to investors

A highlight in the month was Barclays Bank's first SEC-registered credit card platform called Dryrock Issuance Trust.

Santander Consumer Bank's Bilkreditt 3, a Norwegian Auto ABS, this week became the first deal to be tagged with the prime collateralized securities stamp of approval.