Contagion from the subprime mortgage sector could be spreading into other asset classes, with 60-day+ delinquencies for asset-backed securities (ABSs) of auto loans hitting 10-year highs, according to Fitch Ratings.
The rating agency's 60-day+ delinquency index for prime auto ABS deals was 0.77% in January, 44% higher than in the corresponding period in 2007. Subprime auto loan delinquencies stood at 4.03%, the first time they have exceeded 4% since 1997. Fitch's annualised net loss index for pr
The week on Risk.net, July 7-13, 2018Receive this by email