Big changes to the old ways of doing business in the US$1.3trn US ABS market are still on the horizon, even though new SEC rules to improve price transparency have been slightly delayed. Regulators recently extended the target date to move details on bonds backed by credit cards, student debt and auto loans onto the Trade Reporting and Compliance Engine (TRACE) to June 1 from April 27. The move will bring ABS more in line with the corporate bond market, which already reports bond-level trading data through TRACE.
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