Consumer ABS definition

Consumer ABS. Publicly or privately offered, registered asset-backed securities representing beneficial ownership interests in or that are secured by (a) motor vehicle installment loans and retail installment sales contracts secured by new and used automobiles, light-duty trucks and other similar vehicles or (b) the receivables arising from a portfolio of unsecured revolving credit card accounts.
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Consumer ABS means any ABS (other than an RMBS) whose primary risk exposure is to a pool of obligations of natural persons.
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Consumer ABS means a Structured Finance Security for which the Underlying Assets are predominantly obligations (which may include but need not be limited to obligations in respect of balances under credit card accounts, loans, leases, deferred sale agreements, instalment sale agreements) of natural persons;
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More Definitions of Consumer ABS

Consumer ABS means Asset Backed Securities that entitle the holders thereof to receive payments that depend (except for rights or other assets designed to assure the servicing or timely distribution of proceeds to holders of the Asset Backed Securities) on the cash flow from balances outstanding under consumer loans, generally having the following characteristics: (1) the accounts have standardised payment terms and require fixed monthly payments allocated towards principal and interest; (2) the balances of which comprise the obligations of numerous borrowers and accordingly represent a very diversified pool of obligor credit risk; and (3) the repayment stream of such balances depends on the redemption schedule of such amounts and a variety of other factors including prepayment rates and charge-offs.
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Related to Consumer ABS

  • Consumer fireworks means fireworks devices that are designed to produce visible effects by combustion, that are required to comply with the construction, chemical composition, and labeling regulations promulgated by the United States consumer product safety commission under 16 CFR parts 1500 and 1507, and that are listed in APA standard 87-1, 3.1.2, 3.1.3, or 3.5. Consumer fireworks does not include low-impact fireworks.

  • Consumer advocate means the consumer advocate referred to in Iowa Code chapter 475A.

  • Consumer goods means goods that are used or bought for use primarily for personal, family, or household purposes.

  • Consumer customer means anyone acting outside their trade or profession in respect of the insurance cover requested or arranged.

  • Consumer product means a chemically formulated product used by household and institutional consumers including, but not limited to, detergents; cleaning compounds; polishes; floor finishes; cosmetics; personal care products; home, lawn, and garden products; disinfectants; sanitizers; aerosol paints; and automotive specialty products; but does not include other paint products, furniture coatings, or architectural coatings. As used in this article, the term “consumer product” shall also refer to aerosol adhesives, including aerosol adhesives used for consumer, industrial, and commercial uses.