Latest news
Latest news
Third deconsolidation RMBS from a UK challenger bank since November
Parliament’s draft amendments are kinder to the market than Commission's
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Auto and student loans have seen increases in early delinquencies this year, while overall household debt has surged past its recession peak, according to a quarterly report published by the New York Federal Reserve this month.
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The collections issues at consumer lender Provident Financial have provoked a wave of headlines in the UK about an impending crisis in the consumer credit sector, but ABS market sources feel the problems at the company are idiosyncratic rather than a sign of wider market decline. -
An increase in the number of auto loans made to lower quality borrowers has been a key driver in the rise of delinquencies and net loss rates for the sector, according to a report from Kroll Bond Rating Agency on Tuesday.
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A reduction in the amount of bonds being purchased in the ECB’s ABS Purchase Programme shows that the ECB has been on a path to tapering in the asset class, even before it has been officially announced.
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Issuance of higher quality European ABS is fuelling strong technicals, which are underpinning the market in 2017, TwentyFour Asset Management said this week.
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The US ABS market is putting the brakes on as August winds down, but while the primary market quiets, observers say investors are stepping into the secondary market to look for opportunities.
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The Consumer Financial Protection Bureau (CFPB) this month highlighted the rise in student loan debt for consumers over the age of 60, while the percentage of borrowers with at least $20,000 has doubled from 15 years ago to 40%.
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The European ABS primary market has quieted as summer goes into the home stretch, with little for investors to sink their teeth into, though secondary activity has remained upbeat in the meantime.
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An ABS transaction backed by leases made to small and medium sized enterprises (SMEs) originated by abcfinance GMBH closed at the end of last week, with the European Investment Fund participating in the offering.
