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  "domain": "structured-finance",
  "title": "Japan auto-loan ABS waterfall mechanics — evidence-bound reading",
  "entry_type": "wiki_entry",
  "frontmatter": {
    "title": "Japan auto-loan ABS waterfall mechanics — evidence-bound reading",
    "aliases": [
      "Japan auto-loan ABS waterfall",
      "Auto-loan ABS Japan waterfall logic",
      "Toyota Finance auto-loan ABS waterfall",
      "Auto-loan ABS subordination Japan",
      "Auto-loan ABS credit enhancement Japan",
      "structured-finance/japan-auto-loan-abs-waterfall-mechanics"
    ],
    "domain": "structured-finance",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-29",
    "last_tended": "2026-07-29",
    "review_by": "2027-01-29",
    "confidence": "likely",
    "tags": [
      "structured-finance",
      "abs",
      "auto-loan",
      "waterfall",
      "subordination",
      "overcollateralization",
      "japan"
    ],
    "status": "active",
    "canonical_anchor": null,
    "related": [],
    "note": null,
    "sources": [
      "https://www.jcr.co.jp/en/rrinfo/meth_sf/",
      "https://www.jcr.co.jp/en/pdf/dm28/General_Methodology20210802.pdf",
      "https://www.jsda.or.jp/en/statistics/securitization-market/"
    ]
  },
  "summary": "No stable public deal document was located in this review that supports the previous issuer volumes, pool shares, APR ranges, fees, backup-servicer timing, 90/5/5 capital stack, enhancement percentages, trigger effects or rating gaps. Those values are removed. Auto-loan ABS mechanics must be reconst",
  "headings": [
    "Japan auto-loan ABS waterfall mechanics — evidence-bound reading",
    "TL;DR",
    "Wiki route",
    "1. Transaction parties",
    "2. Pool composition",
    "3. Interest waterfall",
    "4. Principal waterfall",
    "5. Credit enhancement",
    "6. Performance triggers",
    "7. Issuance and rating"
  ],
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