ABS new issuance increases 158%

Overall fixed-income new issuance increased by 80.1% to a total $1.2 trillion for the same period. ABS accounted for 18.1% ($219.6 billion) of total-fixed income new issuance in the second quarter of 2008. These figures are compiled from data from publicly issued securities for international sale.

“This data clearly highlights two trends taking place in the capital market … banks are seeking to access new liquidity by undertaking new issuance, secondly they are seeking to re-balance their books … with regard to the level of assets they hold, while at the same time lowering their risk positions,” said Kevin Milne, chief executive of Xtrakter.

However, year-on-year increases were not quite so dramatic. Second quarter 2008 total fixed-income new issuance increased by 38.4% compared with the second quarter of 2007, and ABS increased 26.2% over the same period last year.

See also:
Auto loan ABS delinquencies rise
CDOs of ABSs reach events of default

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