In a short note this morning, Standard & Poor's analysts stated that despite the comparatively weak demand for credit card debt, year-to-date ABS issuance in the sector has doubled its total for all of 2011.

With year-to-date issuance reaching $34 billion, analysts expect full-year 2012 issuance in credit card ABS to reach roughly $40 billion. The increase is happening as banks diversify funding sources away from bank deposits, they said.

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