Consumer ABS

Ally Financial priced an upsized offering of notes backed by lines of credit to auto dealers.

Credit card securitization volume is slightly behind last year’s pace but with the heavy issuance seen this month, the year-end total for the asset class is likely to reach $40 billion, matching 2012 total issuance volume.

Nelnet is in the market with a $408 million student loan securitization that is backed by rehabilitated Federal Family Education Loan Program (FFELP) loans.

Home Credit & Finance Bank (HCFB) is planning a RUR10 billion ($314 million) consumer loan ABS bond, according to a Moody’s Investors Service presale report.

The members of trade association The Structured Finance Industry Group (SFIG) have elected a new, 40-person permanent board, the organization said in a press release.

J.P Morgan Chase plans to issue up to $1 billion of notes backed by credit card receivables, according to a regulatory filing.

Banks are increasingly issuing credit cards to consumers with riskier credit profiles, at a time when consumers in financial distress are placing increased value on paying their mortgages ahead of their credit cards, according to two studies published last week.

Ford is marketing a Canadian dollar denominated auto loan securitization that is backed by prime auto loan receivables originated in Canada

The European Central Bank introduced loan-level data requirements for credit card asset-backed securities used as collateral in its operations subject to a 9-month phase-in.

Consumer Portfolio Services plans to issued its third subprime auto loan securitization of 2013.