DBRS Releases January 2015 Canadian ABS and Enhanced ABS Reports

DBRS Limited (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 in the Canadian ABS market was $31.0 billion at the end of January 2015, up 1.1% from the previous month’s outstanding amount of $30.7 billion. Regular runoff amounted to $205 million. There was one new issuance and one discontinuation in the month.

On February 19, 2015, DBRS published its annual year in review study, entitled 2014 Canadian Structured Finance Year in Review: Performance Stayed Strong Despite Everything Else Going Wrong, which discusses the performance during the year in Canadian structured finance and DBRS’s outlook for 2015. In 2015, new term ABS issuance is expected to be greater than in 2014, due to potential refinancing of the approximately $7.9 billion in expected maturities during the year, with $6.9 billion as a result of maturing credit card programs.

Credit cards remain the largest asset class within the ABS market, comprising 73.4% of the market, followed by home equity lines of credit (HELOC) at 8.3%. Auto loans and leases decreased to 5.8%. The ABS market composition continues to favour consumer lending, with credit card, auto loan/lease programs and lines of credit accounting for approximately 91.4% 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.