U.S. marketed ABS volume is now at $89.5 billion with 197 deals in 2010 as of three days before 2010 ends, according to data from Dealogic.

This number represents a 30% drop from 2009 when full-year volume reached $127.6 billion through 167 transactions. It also marks a fifth straight full-year decrease, Dealogic reported.

Term ABS Loan Facility (TALF)-eligible volume in 2010 dropped to 10% of the total volume with the program having expired at the end of 1Q10.

In 2009, TALF-eligible volume comprised 70% of the full year U.S. marketed ABS volume, Dealogic stated. 

The firm said that auto ABS receivables led all collateral types marketed in the U.S. this year with  total volume reaching $45.8 billion via 88 deals. This represented an 8% increase over last year, which saw $42.3 billion through 51 auto securitizations.

Meanwhile, U.S. marketed volume credit-card receivables merely reached $7.4 billion this year via 20 deals, which is the sector's lowest level on record. This is an 83% drop from the $44.8 billion raised in 2009 via 36 deals, according to Dealogic.

In a separate report, Barclays Capital analysts said that the dearth of credit card securitizations is a result of the loss of regulatory capital relief for bank issuers in mid-2009 as well as these issuers having had access to more attractive funding sources.

Credit card issuance, Barclays analysts said, comprised just 7.1% of 2010 consumer ABS volume, decreasing from 33.5% last year.

 

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