DBRS Releases April 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 individual transaction page to the corresponding Enhanced ABS Report for that particular issuance.

The total outstanding amount in the Canadian ABS market was $33.5 billion at the end of April 2015, up 3.5% from the previous month’s outstanding amount of $32.3 billion. Regular runoff amounted to $306 million.

Issuance during April was strong with six new deals closed. The market saw new securitizations of credit card, home equity lines of credit (HELOCs), reverse mortgages and car rental receivables from Canadian Credit Card Trust II, Master Credit Card Trust II, Golden Credit Card Trust, Genesis Trust II, CHIP Mortgage Trust and WTH Car Rental ULC. Total new issuance amounted to $2.6 billion.

During the month, Canadian Credit Card Trust Series 2012-1 and Master Credit Card Trust II Series 2013-2 matured and were fully repaid.

Credit cards remain the largest asset class within the ABS market, comprising 71.1% of the market, followed by HELOCs at 10.0%. Auto loans and leases decreased to 5.3%. The ABS market composition continues to favour consumer lending with credit card, auto loan/lease programs and lines of credit accounting for approximately 91.8 % 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.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.