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…
Asset-backed securities (ABS) in South Korea experienced a significant decrease of over 5% in issuance during the third quarter compared to the previous year, according to data released by the Financial Supervisory Service on Thursday. The total ABS issued between July and September amounted to 12.5 trillion won, representing a decline of 756 billion won from the same period last year.
ABS encompasses various asset types such as mortgages, auto loans, credit card receivables, and student loans. ABS issued by financial companies decreased from 5.78 trillion won to 5.76 trillion won in the third quarter, while mortgage-backed securities issued by the state-run housing finance corporation, the Korea Housing Finance Corp., saw a 13% increase on an annual basis, reaching 5.77 trillion won.
As of the end of September, the total value of outstanding ABS stood at 246.6 trillion won, marking a 3.1% year-over-year increase.
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- ABS issuance falls 5.7% in Q3 koreatimes.co.kr
