Consumer ABS

A report by Dealogic reported that global ABS volume increased 12% to $72.9 billion in 2011 year-to-date, up from $65.4 billion in 2010 year-to-date. This was the first year-on-year volume boost for ABS since 2007.

As credit card use slows in certain sectors because of tightened budgets and risk avoidance, many issuers may find they lack consistent retention strategies, according to a study from Celent.

Three new ABS transactions are being marketed this week by General Electric Capital Corp. (GECC), Cabela’s, and Santander. Aside from the usual auto transaction, the equipment and credit card sectors are represented in this week’s deal mix as well.

Volkswagen is looking to sell its ABS in China by the end of 2012, according to a Bloomberg report.

Continuing its string of new hires, Barclays Capital has appointed Kenneth Rosenberg as part of its securitization syndicate team.

Buysiders speaking at an investor roundtable panel said that understanding ABS collateral is key to structured finance recovery.

At one of the panels at the Global ABS 2011 conference being held in Brussels this week, participants discussed the new data disclosure requirements from the European Central Bank (ECB).

There remains value in certain European ABS sectors despite their risk profile, said panelists at the Association for Financial Markets in Europe’s (AFME) and the Information Management Network’s Global ABS 2011 conference being held in Brussels this week.

DRBS has assigned provisional ratings to the DBUBS Series 2001-LC2 Commercial Pass-Through Certificates, which will be issued by DBUBS 2011-LC2 Mortgage Trust.

VW Finance priced its €628.90 million ($916 million) auto loan ABS called Driver Espana. It's the issuer's first securitization of auto loan receivables originated by VW Finance within Spain.