Consumer ABS

U-Haul International (UHI) is in the market with a $155 million securitization called U-Haul S Fleet Series 2010-1. The offering is backed by a pool of new and to-be-acquired box trucks.

The public finance market no longer has a triple-A rated bond insurer. Standard & Poor’s downgraded Assured Guaranty’s two insurer platforms on Monday to 'AA-plus' with a stable outlook from 'AAA' with a negative outlook.

The consumer's prolonged stressed state and seasonal pressures drove auto loan ABS losses and delinquencies higher in the most recent period, as reported by Fitch Ratings' latest auto loan ABS index results.

The American Securitization Forum (ASF) expressed its support for the portion of the Dodd-Frank Act that addressed conflicts of interest in securitization in a letter to the Securities and Exchange Commission (SEC) today.

Regulators took their first step this week toward drafting new rules that would require lenders to retain some risk before selling loans into the secondary market.

The Board of Governors of the Federal Reserve System issued a report yesterday on the potential effect of credit risk retention requirements on securitization.

The Brazilian Finance Ministry’s recent hike of the IOF tax on foreign investment into fixed income investments to 6% from 4% is bound to have some kind of impact on the appetite of overseas money for local securitization products. The increase comes after a 2 percentage point hike earlier this month.

The Federal Reserve Board issued a proposal Tuesday that would amend certain portions of its rules implementing the Credit Card Accountability Responsibility and Disclosure Act of 2009.

Avis Budget Car Rental is marketing 144A ABS backed by rental fleet vehicles. There are two deals — Avis Budget Rental Car Funding (AESOP), Series 2010-4 and 2010-5, according to a Moody's Investors Service presale report.

The Financial Accounting Standards Board’s (FASB) proposal that would mandate fair value accounting treatment for most banks is not finding any supporters in the institutional investor space, a new study claims.