Chase Manhattan Bank has completed a $1.5 billion securitization of car and truck loans in what was said to be the largest-ever transaction of its kind by a lender not affiliated with an automobile manufacturer.

The Sept. 8 sale is a move by Chase to cash in on $6 billion in auto loans it originated this year by moving them off its balance sheet.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.