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Asset-Backed Securities

By United States Department of the Treasury

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Book Id: WPLBN0000659430
Format Type: PDF eBook
File Size: 923.15 KB.
Reproduction Date: 2005
Full Text

Title: Asset-Backed Securities  
Author: United States Department of the Treasury
Language: English
Subject: Government publications, Economics., United States. Department of the Treasury--Appropriations and Expenditures.
Collections: U.S. Department of the Treasury Collection
Publication Date:
Publisher: United States Department of the Treasury


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Department Of The Treasury, U. S. (n.d.). Asset-Backed Securities. Retrieved from

Government Reference Publication

Excerpt: Asset-backed securities, called ABS, are bonds or notes backed by financial assets. Typically these assets consist of receivables other than mortgage loans, such as credit card receivables, auto loans, manufactured-housing contracts and home-equity loans. ABS differ from most other kinds of bonds in that their creditworthiness (which is at the triple-A level for more than 90% of outstanding issues) derives from sources other than the paying ability of the originator of the underlying assets.

Table of Contents
C O N T E N T S What Are Asset-Backed Securities? 1 Benefits of Investing in ABS 2 Types of Assets That Back Securities 4 Interest Rates and Yields on ABS 7 Credit Quality and Credit Enhancement 9 How Are ABS Structured? 1 3 Prepayment Models 1 5 Asset-Backed Versus Other Fixed-Income Securities 1 8 Market Risks 1 8 Tax Status of ABS 2 0 Legal Investment Status 2 1 Minimum Investments, Transaction Costs and Marketability 2 2 Glossary 2 4


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