Moody’s Investors Service says that delinquencies for Australian auto loan asset-backed securities (ABS) and for Australian residential mortgage-backed securities (RMBS) have risen
steadily over the five months to May 2016 as well as year-on-year.
Specifically, 30+ day delinquencies for Australian auto loan ABS transactions worsened to 1.66% in May 2016 versus 1.35% in January 2016 and 1.29% in May 2015.
Arrears for prime RMBS transactions rose to 1.50% in May 2016 from 1.34% in January 2016 and 1.40% in May 2015.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
