Finance

Accounts that were one- to 30 days past due have a delinquency rate of 3.50%. Delinquencies rates dropped noticeably with longer timelines.

The notes benefit from a cash-trapping DSCR threshold, a cash trap reserve account and a rapid amortization event.

The card network sees digital payment opportunities and upside from China's reopening, but inflation and the slower pace of travel spending could slow growth.

The sponsor, Byrider Finance, had refined its proprietary underwriting system in Q4 2021, after noticing performance issues in that year's vintage.

Issuers and investors favor term SOFR for ABS floaters but regulators worry that expanding its use—even just a little—will undermine the new floating-rate benchmark.

The loan-growth projections are for Columbia Banking System itself, before the Tacoma, Washington, bank officially merges with Umpqua Holdings. The $5 billion deal is scheduled to close Feb. 28.

Foreclosure prevention actions overall fell for the sixth time in seven months in October, according to the FHFA.

A higher discount rate should offset expected higher debt issuance costs, while maintaining excess spread levels in the deal.

Members of the American Bankers Association's Economic Advisory Committee expect gross domestic product to stall in 2023. Other surveys show a modest contraction. Lenders say sentiment among their borrowers also points to a slight slowdown.

The DLL Finance trust has experienced consistently low delinquencies and net losses since 2012, with net losses reaching only 0.12% as of June 20, 2022.

The declining credit quality included more borrowers with higher credit scores falling behind on their credit card payments. But executives said the increase remains within expectations as it continues seeing "very linear normalization" in credit.

The previous TAOT program issue one floating-rate tranche of notes pegged to the one-month SOFR, a term rate and a shift from the preferred daily rate.

Other officials have supported moderating their pace of tightening amid signs inflation is cooling off and investors widely expect them to move by a quarter point.

The Mulligan trust has a three-year revolving period, during which it could issue up to $500 million in additional notes, if it meets certain conditions.

Mortgages in the transaction are almost evenly split between funding owner-occupied properties (53%) and second homes or investor properties (47%).

Discover Financial Services posted a healthy fourth-quarter increase in card spending and lending, but analysts raised concerns about a sharp rise in credit account charge-offs that's likely to continue into 2024.

The transaction is fixed rate from the collateral to the notes, an apparent retreat from the 2022-4 and 2022-5 deals that priced over the SOFR.

Until 2008, the roughly two dozen "primary dealers" designated by the Federal Reserve Bank of New York had a virtual stranglehold on the distribution of new US government debt.

The Pittsburgh bank posted a solid profit and said that it expects continued loan growth. But the pace of business expansion could slow alongside an economic downturn.

VZMT began securitizing business device plan revenue in 2021. Now, business accounts represent up to 10% of the current securitized asset pool.