Abstract assets


"I have worked on the asset-backed securities desk since September 2004, and each quarter we have seen a greater quantity of esoteric deals in the market from an asset and jurisdictional point of view," says Frederic Rodrigues, credit analyst on ABS/CDO products at HSBC Halbis Partners in Paris.

Asset innovation in the ABS market has occurred in fits and starts over the past few years. The market has seen one-time issuers looking to get their funding demands met or transfer particular types o