DBRS Releases January 2011 Monthly Canadian ABS Report

DBRS has today released its Monthly Canadian ABS Report, which provides an overview of the Canadian term asset-backed securities (ABS) market for the month ending January 31, 2011. The report provides detailed information on the $30.7 billion market, with disclosure on issuance volumes, asset composition and 12-month transaction performance histories. New transactions and rating actions that took place during and after the reporting period are also summarized in the report.

The total outstanding amount in the Canadian ABS market increased to $30.7 billion from $30.6 billion, an increase of 0.6%, in the first month of 2011. In January 2011, there was action in the credit card market with one issuance and one discontinued series. The regular runoff amounted to $293.2 million.

In January 2011, CARDS II Trust issued Series 2011-1, 2011-2 and 2011-3 series, for a total of $1.7 billion, and the ratings of Golden Credit Card Trust Series 2006-1 were discontinued as a total of $1.2 billion was repaid.

Credit cards remained the dominant asset class, with 64.3% market share, up from 63.1% in December 2010. Auto loans and auto leases stood at 14.5%, down from 15.1% the previous month, followed by floorplan financing, which decreased by just 0.1% to 9.0% in January 2011.

The January 2011 Monthly Canadian ABS Report also includes access to the new DBRS enhanced structured finance surveillance reports. Its enhanced features – including detailed historical data for virtually all Canadian ABS transactions that allow for trend analysis and benchmarking of specific asset classes – are available on a subscription basis. For a limited time, however, a select number of transactions have been made available on a trial basis. The highlighted transactions in the table of contents of the report link directly to the enhanced portion of the report.

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

The full report is available by clicking on the link below or by contacting us at info@dbrs.com.