Read the latest articles and press releases about securitization and structured finance.

Industry News

Economists Offer Differing Predictions for Quantitative Tightening

The Federal Reserve’s (Fed) schedule to reduce its balance-sheet, known as quantitative tightening (QT), is ramping up through September and possibly ending in early 2025.

Industry News

Non-Prime Lenders Report Delinquency Upticks Across Consumer Credit Products

According to American Banker, banking executives were “largely positive” about the credit health of their mostly prime borrowers, while nonbank lenders with nonprime portfolios were less enthusiastic.

Industry News

Auto ABS Sees Unexpected Shift in Funding Costs

As Auto Finance News noted on July 29, the cost of funds in Auto ABS should be increasing, with the increasing risk of a recession, and had been through prior weeks.

Industry News

Banks See Opportunity to Attract New Customers in the Face of Adversity

Undaunted by inflation and recession risk, credit-card issuers have allocated more funds to marketing and promotional expenses, have attracted new customers and are hoping to see increases in account balances.

Industry News

Aviation ABS: Heading in a New Direction with a New Player

Voyager Aviation, an aircraft management and leasing firm based in Dublin, has announced its intention to venture into ABS with an initial offering of $600 to $750 million in 2023.

Industry News

U.S. Airports Travel Trends Stabilize Amid Pandemic, Fitch Says

A recent Fitch Ratings report finds that most U.S. airports are reaching pre-pandemic passenger trends despite COVID-19 variants earlier this year. Since its last report, Fitch has revised its rating outlook for nearly all domestic airports from negative to stable. Increased debt issuances are also signaling a return to normality with many airports already coming to market in 2022.

Industry News

Fed Chair Powell Discusses Game Plan for Combatting Rise in Inflation

On May 17, Federal Reserve Chair Jerome Powell in a Wall Street Journal interview stated he is committed to taking interest rates as high as necessary to get inflation headed in the direction of the central bank's 2% target. This comes after earlier this month, the Fed raised benchmark borrowing rates by half a percentage point, the second increase of 2022 as inflation reached around a 40-year high. Fed officials continue to stress that the rise in inflation is only temporary.

Industry News

Federal Reserve Financial Stability Report Warns of Worsening Liquidity

In its semi-annual report, published May 5, the Federal Reserve took a cautionary tone in describing the dramatic changes since its last report in November 2021, citing human and economic hardship due to the Russian invasion of Ukraine, the spread of the COVID Omicron variant and inflation that has been higher and longer than anticipated as elements of the vulnerabilities of the U.S. financial system.

Industry News

NAHB Home Builders Index Declines Again as Interest Rates Climb

The NAHB monthly index, released April 18, dropped for the third month to 2 points below March. Two of the measures’ three components showed a marked decline, particularly the outlook for traffic of prospective buyers which fell to 60 points from 66 points in March, with analysts noting that the housing market is highly interest rate sensitive.

Industry News

St. Louis FED President James Bullard ‘Wouldn’t Rule Out’ Bigger Rate Hikes

Speaking to the Council on Foreign Relations April 17, St. Louis Federal Reserve Board President James Bullard reiterated the Federal Reserve target of 3.5% interest rates by year-end with half-point hikes, mentioning the Taylor rule and the 1994 hike of 75 basis points.

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