▲ This photo, provided by the Financial Supervisory Service, shows the agency's logo. (PHOTO NOT FOR SALE) (Yonhap)

ABS issuance-tally

ABS issuance soars 36 pct in Q1 on rise in mortgage-backed securities

SEOUL, April 30 (Yonhap) -- The issuance of asset-based securities (ABSs) in South Korea climbed sharply in the first quarter due to a rise in the issuance of mortgage-backed securities (MBSs), data showed Thursday.

The ABSs issued came to 11.35 trillion won (US$7.71 billion) in the January-March period, up 36 percent, or 3 trillion won, from a year earlier, 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.

The rise came as MBSs issued by the Korea Housing Finance Corp. spiked 92 percent on-year to 5.08 trillion won over the cited period.

As of end-March, the value of outstanding ABSs stood at 243.9 trillion won, down 2.8 percent, or 7.1 trillion won, from a year before, the latest data showed.

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