SEOUL, Oct. 29 (Yonhap) -- 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 (US$9.32 billion), down 756 billion won from the same period last year, according to the data from the Financial Supervisory Service.
ABS refers to securities based on such assets as mortgages, auto loans, credit card receivables and student loans.
ABS issued by financial companies stood at 5.76 trillion won in the third quarter, down from 5.78 trillion won over the cited period, while mortgage-backed securities issued by the state-run housing finance firm, the Korea Housing Finance Corp., rose 13 percent on-year to 5.77 trillion won.
The value of outstanding ABS stood at 246.6 trillion won as of end-September, up 3.1 percent, from a year ago.
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