Consumer ABS

Information provider Dealogic released data this morning showing that global ABS volume is now at $165.3 billion in 2011 year-to-date. This increased 28% or $129.1 billion over 2010 year-to-date.

The Bank of Ireland's successful RMBS tender offer on its Kildare and Brunel securitization programs is likely to be followed by more similar offers as banks continue to work to meet new capital requirements.

Prefunding in securitization transaction structures is credit negative because it introduces a risk to ABS investors, according to Moody's Investors Service.

The European securitization market remained open for business despite the looming threat the impending sovereign downgrades can have on deals.

The European Central Bank (ECB) has relaxed its collateral requirements for repo eligibility in a move that encourages new ABS activity.

A new German auto securitization deal backed by €427.1 million ($570.9 million) of auto loans from GMAC Bank GmbH joined Europe's new-issue pipeline.

In 2012, student loan ABS issuance will likely remain flat at $15 billion from this year, according to research this morning from Standard & Poor's.

The trend of U.S. credit cardholders putting credit card payments ahead of mortgage payments that began in early 2008 shows no sign of abating in the immediate future even as the economy gradually improves, TransUnion analysts said.

Federal regulators took another step Wednesday toward lessening banks' reliance on credit ratings by proposing three methods for assessing risk on firms' trading books.

U.S. structured finance is expected to be stable from a credit and ratings standpoint, although macro uncertainties can test collateral performance for some asset classes, Fitch Ratings said in its 2012 outlook report.