DBRS Releases Monthly Canadian ABCP Report

DBRS has today released the Monthly Canadian ABCP Report for the month ended June 30, 2009. The Monthly Canadian ABCP Report offers detailed information on all publicly rated asset-backed commercial paper (ABCP, excluding medium-term notes and private placements), which totalled $39.9 billion.

The ABCP market continues to be dominated by asset classes related to consumer obligations, which fall into three broad categories: residential mortgages, autos, and lines of credit and credit cards. By the end of June, residential mortgage programs, the largest asset class, accounted for 33.0% of the market, which can be further broken down to conventional mortgages (22.7%), insured mortgages (6.0%) and non-conventional mortgages (4.3%). Auto-related consumer obligations accounted for 23.4% of the total market (auto leases 11.0% and auto loans 12.4%). They were followed by the third largest segment, lines of credit and credit cards, which totalled 21.8% of the market (lines of credit 13.3% and 8.5% credit cards). These three categories of obligations combined made up 78.2% of the assets monetized in the ABCP market as of June 30, 2009.

Notes:
All figures are in Canadian dollars unless otherwise noted.