A different class of asset
Residential mortgages are expected to play an increasingly dominant role in Japan’s asset-backed securities market, with a variety of players tapping the market to manage the risks on their housing loan portfolios. Saima Farooqi reports
Japan’s asset-backed securities market has gone from strength to strength. Last year saw yet another record high in issuance volumes, the fourth consecutive year of growth, and many analysts reckon that record will be broken again in 2003. Much of the growth last year was driven by the country’s housing loan market, now the dominant asset class ahead of equipment leases. And with some of the country’s financial institutions now focusing more closely on residential mortgages, some
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