With six weeks left of the year, auto securitization volume has already surpassed last year’s total volume, according to a new report from Standard & Poor’s. To date, issuers have securitized $89 billion of auto loans, leases, and floorplans, compared with $88 billion for all of 2013. Auto has been the most active sector, accounting for 47% of the $189 billion total ABS volume so far, followed by credit card (22%) and student loan (8%), S&P said.
Recent securitizations include a $1 billion deal from General Motors Financial Co.’s AmeriCredit Corp. unit, set to close Nov. 20, along with similarly sized transactions issued last month by Fifth Third Bank, Ally Financial Inc., VW Credit Inc., and BMW Financial Services.
