Consumer ABS

GE Capital Corporation is issuing a deal worth approximately $619 million of ABS.

Porsche Financial Services (PFS) is marketing a $518.60 million auto loan securitization.

U.S. student loan issuance is expected to remain around the same levels observed in both 2009 and 2010 according to report by Henderson Global Investors.

The Basel Committee on Banking Supervision finalized its review of the Basel III standard for capital treatment for counterparty credit risk in bilateral trades and plans to modify the risk weighting of credit valuation adjustment (CVA), which is the risk of loss caused by changes in the credit spread of a counterparty due to changes in its credit quality.

Lloyds TSB and Bank of Scotland are marketing a GBP615 Million ($1bn) credit card securitization deal dubbed Penarth Master Issuer Plc (2011-1 A1 and A2).

The government is a month into selling its AIG holdings. Despite the bids for the auctions being pre-announced, the sales are causing a commotion in the RMBS secondary market, and the reaction from securitization players is not entirely positive.

The Securities and Exchange Commission's (SEC) proposal issued May 18 to implement rules mandated by the Dodd-Frank Act tasks rating agencies with measures most have sought to address, but the proposal's detailed requirements could instead overwhelm smaller agencies.

So far it is largely confined to the auto lending sector. But, given recent history, the natural question is whether subprime - which, strikingly, has kept its old name - could spread and prompt a replay of the financial crisis.

Brazil was a locus of hope for participants at the Securitization and Structured Finance in Latin America (SiLAS) conference organized by Euromoney Seminars and LatinFinance, as the economy keeps growing apace and sectors such as infrastructure and energy, among others, have an enormous appetite for funding.

Vendors anticipated hearing May 27, the Friday after ASR's deadline, whether they could bid on the contract to build and operate a repository to collect and make available data for loans backing European RMBS, a project several steps ahead of a similar effort in the U.S.