Consumer ABS

Lloyds TSB marked the end of the summer holiday with two deals, one that priced ahead of the long bank holiday weekend and a second deal that is slated to begin marketing.

DBRS is requesting comments on the proposed legal criteria for European structured finance deals.

The performance of major bank credit card trust collateral for the July collection period — August distribution date — was positive, according to Barclays Capital analysts in a report released today.

Volkswagen is preparing to issue a new auto ABS deal with fixed-rate notes called Private Driver 2010-1.

Three years after the onset of the financial crisis, securitization market players are now focusing more on finding different restructuring options for ABS deals, according to the Henderson Global Investors' structured products team.

While the call for the creation of a catastrophic insurance fund for MBS has been gaining ground in recent weeks, two leading Federal Reserve Board economists are poised to push the concept one step further, suggesting a backstop for all ABS.

Sallie Mae is in the market with a FFELP-backed student loan ABS with Bank of America Merrill Lynch serving as lead manager. RBS Securities is co-manager on the $760.4 million offering.

The auto sector remains the most active part of the ABS market with three transactions boosting the pike. Hyundai Capital America (HCA) and Ally Bank are both in the market with their respective deals.

The credit outlook at the top six card issuers is getting brighter, with both chargeoffs and delinquencies falling again in July.

Santander is in the market with an auto ABS deal worth $700.5 million. The five-tranche offering is lead managed by JPMorgan Securities, Credit Suisse, and Wells Fargo.