Consumer ABS

Standard & Poor’s has found fresh evidence supporting its view that originators of consumer asset-backed securities will sustain issuance into the fourth quarter.

Credit card delinquencies fell to 2.93% in the second quarter, the lowest level since 2001, according to the American Bankers Association.

Ally Bank is marketing a $680mln auto dealer floorplan securitization from its master trust.

The State Board of Regents of the State of Utah will issue a $518.7 million, taxable student loan-backed securitization.

The market for U.S. credit card ABS hit two milestones during September, both encouraging signs for the asset class.

The data analytics firm reported that U.S. marketed ABS volume has reached $155.9 billion year-to-date, rising 78% from the same period last year and is the highest year-to-date volume since 2007..

To add to the growing number of credit card ABS transactions, GE Capital today filed with the SEC to issue under its GE Capital Credit Card Master Note Trust.

Wells Fargo analysts said this afternoon that student loans seem to be "crowding out" other types of consumer borrowing.

JPMorgan Securities will be issuing under a its Chase Issuance Trust worth $600 million.