Consumer ABS

Volkswagen Leasing plans to issue a €723 million ($937 million) securitization backed by German auto lease receivables.

MotoNovo Finance, a division of FirstRand Bank, plans to issue £101.3 million of securities backed by U.K. auto leases, according to a Moody’s Investors Service presale. Mercedes Benz and Santander Consumer also respectively priced German and Norwegian auto loan paper.

GMAC plans a £100 million U.K. auto loan securitization, E-Carat 4, according to presale reports.

Santander Consumer Bank plans to issue €700 million ($918 million) of securities backed by Norwegian auto loan receivables under its Bilkreditt trust.

Mercedes Benz Bank plans to issue €800 million in securities backed by German loan receivables for cars, vans, trucks, and buses.

The Securities and Exchange Commission has adopted a rule requiring more disclosure about the quality of loans in asset-backed securities.

Bank of America Merrill Lynch has increased its forecast for issuance of bonds backed by airplane and railcar leases and timeshare loans and other non-traditional asset classes for 2014 by $5 billion to $20 billion.

On Wednesday the Securitization and Exchange Commission will consider whether to adopt rules revising the disclosure, reporting and offering process for all things asset-backed.