ABS issuance down 32% in H1 – The Korea Herald

August 1, 2022 By admin

The issuance of asset-backed securities (ABSs) in South Korea shrank 32 % on-year within the first half of this yr as a result of decreased gross sales of mortgage-backed securities, knowledge confirmed Wednesday.
The ABS issued throughout the January-June interval got here to 24.1 trillion received ($18.4 billion), down 11.3 trillion received from a yr earlier, in line with the information from the Monetary Supervisory Service.
ABS refers to securities based mostly on such belongings as mortgages, auto loans, bank card receivables and scholar loans.
The decline stemmed largely from a fall within the issuance of mortgage-backed securities (MBSs) by the state-run Korea Housing Finance Corp. (HF).
The HF offered 11.9 trillion received price of MBSs within the first half, down 48.1 % from a yr earlier, the information confirmed.
The HF offered fewer MBSs because the fast-rising rates of interest tightened state-supported mortgage insurance policies and diminished traders' urge for food for danger.
The ABS issuance by monetary corporations inched up 1.7 % on-year to 7.9 trillion received, whereas the issuance by non-financial corporations decreased 10.3 % to 4.3 trillion received. (Yonhap)

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