DBRS Releases June 2014 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 $32.4 billion at the end of June 2014, up 2.6% from the previous month’s outstanding amount of $31.6 billion. This increase was driven by two new public issuances and one private placement in the month. Regular run-off amounted to $202.5 million.

Hollis Receivables Term Trust II issued $602.4 million in Series 2014-1 Notes, MCAP RMBS Issuer Corporation issued $200.8 million in 2014-1 Notes and WTH Car Rental ULC issued Series 2014-1 Notes in a private placement.

Credit cards remain the largest asset class within the ABS market, comprising 71.6% of the market. Home equity lines of credit increased to 8.0%, followed by auto loans and leases at 6.7%. The ABS market composition continues to favour consumer lending and mortgage obligations, accounting for approximately 91.6% of the market.

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

The full report providing additional analytical detail is available by clicking on the link under Related Research at the right of the screen or by contacting us at info@dbrs.com.