1st Financial Bank is in the market with two credit card deals called 1st Financial Credit Card Master Note Trust II 2010-A and 2010-B.
Preliminary details on the transactions are available via the link below from the ASR Scorecard database.
More From Asset Securitization Report
Trump’s credit card cap would squeeze a $70 billion bond market
The 10% cap would cause a key measure of bond income — called excess spread — to drop to levels similar to those seen during the global financial crisis
GM Financial sponsors a $1.3 billion prime auto ABS deal
The loans have a weighted average (WA) score of 781, the highest to date for the platform, and the deal also has several key positive credit highlights, including the lowest concentration of leases with terms greater than 36 months.
Trillium Credit Card Trust starts its 2024 vintage with $435 million
The collateral has a high principal payment rate, 63.1%, for the eleven months ended November 2023. It also had payment rates of 66.7% and 59.0% for the twelve-month averages for 2022 and 2021, respectively.
Synchrony Bank sponsors $500 million in credit card ABS
The collateral pool had an average account balance of $1,620, lower than that of credit card securitization trusts that the Big Six banks sponsor, and the ABS notes benefit a 26% subordination level.
Synchrony Card Issuance Trust aims to sell $1 billion in ABS
Synchrony has a lower credit quality than most other bank sponsors of credit card securitization trusts in the U.S., but the average account balance is lower, too.
