The issuance of asset-backed securities in South Korea slipped 11.9 percent on-year in the third quarter because of a decline in sales of government-led mortgage funds, data showed Monday.
The value of ABSs issues stood at 9.6 trillion won ($8.1 billion) during the July-September period, down 1.3 trillion won from a year ago, according to the data from the Financial Supervisory Service.
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ABSs are structured with mortgages, auto loans, credit card receivables and students loans as underlying assets.
The drop came as the Korea Housing Finance Corp., the state-run mortgage agency, reduced the issuance of its mortgage-backed securities.
The amount of MBS issued by the state-run housing financing company stood at 5.3 trillion won for the third quarter, down 700 billion won from a year earlier. (Yonhap)
