Consumer ABS

Speakers at one panel of Information Management Network’s ABS East conference think the industry will come around to this field’s potential of socially responsible investing.

Regulators are moving forward with proposals to apply the corporate bond transparency system known as TRACE (Transaction Reporting And Compliance Engine) to the entire MBS and ABS markets,according to Saber Partners.

Credit card securitizations almost exclusively consist of receivables of well-seasoned, high-quality cardholder accounts that have performed well despite persistently high unemployment, according to a Moody's Investors Service report published today.

Santander Consumer Bank pre-placed its Svensk Autofinans 1— the first Swedish securitization of 2012.

ABS East 2012, organized by Information Management Network (IMN), is on track to be a little bigger and more upbeat than last year’s conference.

PHH Corp and Automotive Rentals, Inc. are in the market in the market with securitizations of fleet lease backed notes sized at $450 million and a $419mn respectively.

Increased new issue volumes and near record lows in the consumer ABS spreads have led to slightly wider spreads in both the primary and secondary markets, according to two securitization market reports.

A buoyant primary market in securitizations in the auto sector could fuel a 47% annual growth in issuance in 2012, said Standard & Poor’s.

Two equipment trust deals from Macquarie Equipment Finance and General Electric Capital Corp. will add $257.6 million and $714.6mln respectively to the ABS primary pipeline this week.