UBS Shutters Auto ABS Unit
Investment bank UBS has disbanded the group that manages auto- and consumer-loan backed securitizations, according to The Wall Street Journal today.
UBS will retain its real estate ABS unit.
Auto ABS volume has been on the rise this year. So far, $56.7 billion of vehicle loans and leases have been securitized, according to JPMorgan Securities. That compares with $54 billion for all of 2010.
Here’s a look at historical auto ABS volume (data courtesy of JPMorgan Securities):
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