Fitch, S&P and Moody’s continued to dominate the ABS market’s key sectors: vehicle and business finance. The residential MBS business is spread out more among the five major ratings services. (Includes two data tables.)
TD Bank ranked as the top U.S. bank investor in non-mortgage ABS at the end of the second quarter, after notching gains in both securitized auto loans and business finance. (Includes two data tables.)
The rule, implemented in June, aims to prevent conflicts of interest in the ABS market. The SEC provided no-action relief in May, helping ease compliance with the rule.