ABS issuance down 20.2% in Q1 – The Korea Herald

The issuance of asset-backed securities (ABSs) in South Korea shrank 20.2 % on-year within the first quarter on account of decreased gross sales of mortgage-backed securities, information confirmed Wednesday.
The ABS issued throughout the January-March interval got here to 10.9 trillion received ($8.7 billion), down 2.8 trillion received from a 12 months earlier, in keeping with the info from the Monetary Supervisory Service (FSS).
ABS refers to securities based mostly on such belongings as mortgages, auto loans, bank card receivables and pupil loans.
The decline stemmed principally from a fall within the issuance of mortgage-backed securities (MBSs) by the state-run Korea Housing Finance Corp.
The company offered 6.3 trillion received price of MBSs within the first quarter, down 2.8 trillion received from a 12 months earlier, the info confirmed.
Monetary companies' ABS issuance rose 200 billion received on-year to 2.4 trillion received, whereas the ABS issuance by non-financial companies shrank 200 billion received to 2.2 trillion received.
As of end-March, excellent ABSs stood at 228.1 trillion received, up 7 trillion received, or 3.2 %, from a 12 months earlier than, the info confirmed. (Yonhap)

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