Ledn issues ABS backed by Bitcoin loans; fire at SFVegas prompts shift in exhibit hall; banks seek enhanced capital relief for CRTs; Fitch launches group for private ratings; Upstart sells auto loans to Bayview.

Some 20 auto ABS have hit the market thus far in January, continuing momentum from a strong 2025. Meanwhile, the outlook for collateral performance is negative, though credit ratings are expected to hold.

Rating services caution that President Trump’s proposed one-year credit card rate cap would negatively impact card issuers and ABS issuance.