ABS new issuance increases 158%
Asset-backed securities (ABS) issuance for the second quarter has increased 158% compared with the first quarter, according to London-based data provider Xtrakter.
“This data clearly highlights two trends taking place in the capital market … banks are seeking to access new liquidity by undertaking new issuance, secondly they are seeking to re-balance their books … with regard to the level of assets they hold, while at the same time lowering their risk positions,” said Kevin Milne, chief executive of Xtrakter.
However, year-on-year increases were not quite so dramatic. Second quarter 2008 total fixed-income new issuance increased by 38.4% compared with the second quarter of 2007, and ABS increased 26.2% over the same period last year.
See also:
Auto loan ABS delinquencies rise
CDOs of ABSs reach events of default
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