ABS issuance on the up

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POST-SEPTEMBER EUROPEAN asset-backed issuance took a while to find its feet, but a horde of postponed deals totalling e21.4 billion ($17.5 billion) resurfaced in October, making it a record month for the market.The backlog of deals that were originally anticipated for 2001 could stretch into the first quarter of 2002, says Jennifer Lin, structured finance research analyst at Commerzbank Securities. “There are many deals currently in the pipeline.”An annual volume of e115 billion would not be