Consumer ABS

Nelnet has acquired $1.9 billion worth of Federal Family Education Loan Program or FFELP consolidation loans from Greystone & Co.

So far this year, $66 billion of new deals have been issued in the ABS market. The prime auto loan ABS sector makes up 25% of total volume, while the combined auto ABS sectors represent 57% of total volume. Meanwhile, student loans comprised 21% of the total loan volume, according to Bank of America Merrill Lynch figures.

The Federal Deposit Insurance Corp. (FDIC) has issued a final ruling meant to clarify the Orderly Liquidation Authority (OLA) receivership under the Dodd-Frank Act. Moody’s Investor Service considers this ruling to be credit positive for non-bank sponsored ABS, particularly auto loan ABS and equipment leases or instruments.

Portugal and Greece won't lose access to European Central Bank (ECB) liquidity, said the ECB in separate announcements.

Moody’s Investors Service downgraded Portugal by four notches to 'Ba2' from 'Baa1' with a negative outlook yesterday.

FG Solutions International has formed a new ABS trading desk in North America to expand service offerings for investors and traders.

In a report released today, Moody’s Investors Service analysts discuss their methodology for the rating of consumer loan ABS transactions and provide their outlook on the securitization markets around the globe.

In a Securities Exchange Commission (SEC) S-3 filing today, Ford Credit's Ford Credit Floorplan Corp. increased its shelf to $7.12 billion. For a copy of the filing, please click this link.

Chariot Funding, Falcon Asset Securitization Co. and Jupiter Securitization Co. have together funded a $3.024 billion auto ABS. JPMorgan Chase Bank serves as the administrative agent for all three conduits, which are partially supported, multiseller ABCP programs.

American Banker sat down for an extensive exit interview with FDIC Chairman Sheila Bair, who will leave office on July 8. Following is an edited transcript.