Securitization Utilization Up for First Time in Decade

The Federal Reserve released its Consumer Credit (G19) report on Friday, October 5, that showed revolving credit (i.e., credit card loans) was up $4.8bn to $1,041.8bn outstanding, and non-revolving credit (i.e., auto and student loans) was up $15.3bn to $2,893.6bn outstanding. Also reported in a Structured Finance Credit Update release by S&P Global, "securitization utilization," which is defined as the outstanding ABS volume backed by residential/commercial mortgages, auto loans, student loans, credit cards, and leveraged loans, increased in Q2 2018 for the first time in 10 years (from 12.8 percent to 13 percent), as S&P Global’s approximation for the total structured finance market rose some $65bn q/q to over $2.5tn.

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