The Federal Reserve is expected to end its Term Asset-Backed Securities Loan Facility consumer ABS programme at the end of March, say bankers. For most issuers that won’t be a problem, but some issuers of off-the-run ABS asset classes will face a period of more expensive funding.
“We’re not too worried about prime autos and credit cards, as they are pricing well inside of the Talf loan rate,” says Mike Wade, head of asset securitization origination for the Americas at Barclays Capital.
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