Consumer ABS delinquencies climbing despite ‘unprecedented’ performance
Delinquencies in consumer ABS have started to rise off the back of higher unemployment figures, after the asset class has enjoyed unprecedented performance thanks to US government support. The financial health of many deals now rests on the outcome of fiscal stimulus agreements.
Consumer ABS deals have outperformed expectations during the pandemic, thanks to support from the government. The US Paycheck Protection Program (PPP) boosted the ability of borrowers to pay back their debts during the pandemic.
But consumers have responded differently to the government support during the Covid-19 crisis when ...Already a subscriber? Login