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ABS issuance-Q3 tally
ABS issuance jumps 47.4 pct in Q3
SEOUL, Oct. 30 (Yonhap) -- The issuance of asset-backed securities (ABSs) in South Korea surged over 47 percent from a year earlier in the third quarter on a sharp increase in those issued by the state-run housing finance company, data showed Monday.
The ABS issued during the three months ended in September came to 17.6 trillion won (US$12.3 billion), up 47.4 percent from the same period last year, according to the data from the Financial Supervisory Service (FSS).
ABS refers to securities based on such assets as mortgages, auto loans, credit card receivables and student loans.
The financial regulator attributed the on-year increase to a sharp rise in mortgage-backed securities (MBSs) issued by the Korea Housing Finance Corp.
In the July-September period, the housing firm issued 12.3 trillion won worth of MBSs, up 8.3 trillion won from a year earlier, according to the FSS.
ABS issuance by financial companies dipped 2.1 trillion won to 3.9 trillion won, with issues by nonfinancial companies also sliding 500 billion won to 1.5 trillion won over the cited period.
As of end-September, outstanding ABSs came to 246 trillion won, up 6.7 percent, or 15.5 trillion won, from a year before.
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