Consumer ABS

The Federal Deposit Insurance Corp. (FDIC) recently finalized its Safe Harbor that protects the assets that are transferred to bank-sponsored securitization vehicles from a financial institution's FDIC receivership.

Europe continued to see its primary securitization pipeline move toward recovery with strong issuance dominating the market in October.

CarMax has a new $650 million auto loan securitization marketing that will offer investors three triple-A rated tranches as part of it capital structure.

The Financial Industry Regulatory Authority (FINRA) is establishing a new effective date of May 16, 2011 for reporting ABS to the trade reporting and compliance engine (TRACE).

Standard & Poor’s predicts that the volume of outstanding structured finance securities in the U.S. as a percentage of GDP will fall to the 23%-25% range by the end of 2011, the weighting it had in 2003-2004.

CIT said on Tuesday it earned 66 cents a share or $131.5 million in the second quarter, thanks to gains in its transportation finance and vendor finance businesses.

When times are tough, consumers, increasingly, are paying their credit card bills first and worrying about the mortgage later.

Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair became the first regulator to publicly shoulder some of the blame for foreclosure problems at several servicers, saying the agencies should have seen it coming.

Citigroup Chief Executive Vikram Pandit offered up a scathing review Monday of Basel III, saying the new rules do nothing to reduce pro-cyclicality or to level the playing field among different countries and differently regulated financial institutions.

Independent broker-dealer Braver Stern Securities opened two new fixed-income institutional sales offices in Boston, MA and Richmond, VA.