DBRS Releases October 2013 Canadian ABS and Enhanced ABS Reports

DBRS has today released the enhanced version of the Monthly Canadian ABS Report (the Enhanced ABS Report), in conjunction with the Monthly Canadian ABS Report.

The Enhanced ABS Report offers additional metrics, longer data series, definitions and charts that provide the user with both numeric and graphic presentations to allow for a quick review of the overall performance and trends for each transaction, as well as benchmarking of transactions within an asset class.

The Monthly Canadian ABS Report has links that allow the user to go from the table of contents or the individual transaction page to the corresponding Enhanced ABS Report for that particular issuance.

The total outstanding amount of the Canadian ABS market was $31.1 billion at the end of October 2013, up 3.3% from the previous month’s outstanding amount of $30.1 billion. Regular runoff amounted to $182.9 million.

In October, there were three new issuances: Eagle Credit Card Trust, which came to market and issued $400.0 million in Series 2013-1 Notes; Genesis Trust II, which issued $1,040.6 million in Series 2013-1 Notes; and Hollis Receivables Term Trust II, which issued $602.4 million in Series 2013-1 Notes. There was one discontinuation in the month: Golden Credit Card Trust, Series 2011-2 for $866.9 million.

Credit cards remain the largest asset class within the ABS market, comprising 77.5% of the market. Auto loans and auto leases decreased to 8.2%, followed by Home Equity Lines of Credit, increasing to 4.9%. The ABS market composition continues to favour consumer lending, with credit card and auto loan/lease programs accounting for approximately 85.7% of the market.

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