DBRS Releases August 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 reports provide an overview of the Canadian term asset-backed securities (ABS) market for the month ending August 31, 2015.

The total outstanding amount in the Canadian ABS market was $34.5 billion at the end of August 2015, up 0.01% from the previous month’s outstanding amount of $34.2 billion. Regular runoff amounted to $400 million.

Issuance during August was relatively slow with only one new securitizations of credit card receivables from CARDS II Trust. Total new issuance amounted to $636 million.

Credit cards remain the largest asset class within the ABS market, comprising 70.0% of the market, followed by home equity lines of credit at 9.8%. Auto loans and leases decreased to 5.6%. The ABS market composition continues to favour consumer lending, with credit card, auto loan/lease programs and lines of credit accounting for approximately 85.4% 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.