ABS issuance falls 5.7% in Q3
The issuance of asset-backed securities (ABS) in South Korea declined by more than 5 percent from a year earlier in the third quarter of the year on a decline in property-backed securities, data showed Thursday. The ABS issued in the July-September period came to 12.5 trillion won ($9.32 billion), down 756 billion won from the same period last year, according to the data from the Financial…
South Korean asset-backed security (ABS) issuance experienced a notable decline of over 5% during the third quarter of the year, according to data released on Thursday. ABS, which are securities backed by assets such as mortgages, auto loans, credit card receivables, and student loans, totaled 12.5 trillion won ($9.32 billion) in the July-September period, a decrease of 756 billion won compared to the same period last year, reported the Financial Supervisory Service.
The ABS issued by financial companies dropped from 5.78 trillion won in the previous quarter to 5.76 trillion won in the third quarter, while mortgage-backed securities issued by the state-run Korea Housing Finance Corp. rose by 13% year-on-year to 5.77 trillion won. The total outstanding ABS value reached 246.6 trillion won at the end of September, marking a 3.1% increase compared to the same period last year.
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- ABS issuance falls 5.7% in Q3 koreatimes.co.kr
