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| | Asset-Backed Securities, by Phillip L. Zweig: The Concise Encyclopedia of Economics: Library of Economics and Liberty |
 | | Asset-backed securities enable depository institutions, finance companies, and other corporations to "liquefy" their balance sheets (i.e., raise cash by borrowing against assets) and develop new sources of capital. | | | Not surprisingly, asset-backed securities evolved out of the mortgage-backed securities market, which developed in the seventies when interest rates surged and thrift institutions found themselves saddled with residential mortgages that were earning less than what they were paying for deposits. | | | Assets such as credit cards, automobile loans, and home equity loans are packaged as the collateral for intermediate-term (i.e., maturity of one to five years) securities and sold in the public markets or as private placements. |
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http://www.econlib.org/library/Enc/AssetBackedSecurities.html
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| | RealCorporateLawyer.com Shelf Offerings |
| | The acronym “PIPEs” stands for “privately-placed, public equity.” A PIPEs transaction occurs when company issues securities to investors in a private transaction, and a condition to closing the private transaction is the shelf registration of the securities for resale. | | | In a PIPEs transaction, the only condition to closing the private transaction that can remain open at the time the securities are registered for resale is the effectiveness of the resale registration statement. | | | However, ifthe Trust Indenture Act of 1939 [http://www4.law.cornell.edu/uscode/15/ch2A.html] prevents an issuer from increasing the dollar amount of debt is not originally registered, debt securities cannot be included as one of the types of securities described in the unallocated registration statement.securities being offered via a post-effective amendment. |
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http://www.realcorporatelawyer.com/faqs/shelf.html
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| | "Mortgage-Backed Security" "Mortgage-Backed Obligation" definition |
| | Similar securities or bonds backed by other forms of collateral or assets, such as credit-card receivables, car loans or mobile home loans, are called asset-backed securities or bonds, as distinguished from the various forms of mortgage-related securities. | | | The offering of the securities, bonds or obligations backed by a pool of mortgages is referred to generally as a securitized-mortgage offering. | | | Pass-through, unlike non-pass-through, securities are not retained on the balance sheet of the originator or issuer of the securities. |
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http://www.deltaalpha.co.uk/terms/mortgagebacked.html
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| | Asset Backed Securities |
| | Asset Backed Securities (ABS) are pools of financial obligations - automobile loans, credit card receivables, home equity loans, etc., that have been securitized and packaged for sale to investors. | | | Asset backed securities were first offered in the mid 1980’s and today rank as one of the fastest growing segments of the fixed income market. | | | HELs asset backed securities are generally issued as pass-throughs or in sequential-pay classes. |
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http://www.allegiancecapital.com/sctn4g.html
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| | Proposed Rule: Asset-Backed Securities; Release Nos. 33-8419; 34-49644; File No. S7-21-04 |
| | The financial asset was held by the issuing entity and was a part of the asset pool for the asset-backed securities. | | | In that instance, the asset-backed securities are not backed solely by financial assets that “by their terms convert into cash,” because the transaction also involves a physical asset that must be sold in order to obtain cash. | | | For the general definition of “asset-backed security,” the amount of proceeds that may be used for a prefunding period may be up to 50% of offering proceeds and the length of the prefunding account may last up to one year from the date of issuance of the asset-backed securities. |
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http://www.sec.gov/rules/proposed/33-8419.htm
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| | asset backed securities |
| | Asset-backed securities are bonds that are based on underlying pools of assets. | | | Asset Backed Alert Countrywide Securities is establishing a new... | | | Securities Act registration requirements for asset-backed securities offerings, including expanding... |
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http://www.allaconsolle.it/finanza/asset/asset-backed-securities.php
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| | Asset-Backed Securities |
| | All asset-backed securities are securities which are based on pools of underlying assets. | | | Asset-backed securities are bonds that are based on underlying pools of assets. | | | The wonder of securization is that it takes a wide variety of formerly illiquid and directly held assets and makes them available to many investors in the form of asset-backed securities. |
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http://www.finpipe.com/assback.htm
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| | Asset Backed Securities |
| | Our information about asset backed securities was constructed to be educational and educational. | | | The asset backed securities facts at hand since the internet was introduced has improved in variety. | | | If you clearly want to dig up more about topics related to asset backed securities, then you need to be accommodating and set aside the time needed to locate the stellar sources to aggregate the material. |
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http://www.mortgage-free-solutions.com/asset-backed-securities
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| | dig030204.txt |
| | The Commission will consider whether to adopt amendments to Form 8-K under the Securities Exchange Act of 1934 to add several new disclosure items, amend certain of the existing Form 8-K disclosure items and shorten the Form 8-K filing deadline. | | | The proposals would also require a registered management investment company to disclose additional information about its portfolio managers in its Statement of Additional Information, including other investment companies and accounts they manage, compensation structure, and securities ownership in investment companies and accounts they manage. | | | 34-49334) APPROVAL OF PROPOSED RULE CHANGE The Commission approved a proposed rule change (SR-NASD-2003-196) submitted by the National Association of Securities Dealers, through its subsidiary, the Nasdaq Stock Market, Inc., modifying fees for persons that are not NASD members using the Financial Information Exchange (FIX) protocol to connect to Nasdaq. |
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http://www.sec.gov/news/digest/dig030204.txt
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| | Credit and Finance Risk Analysis - Asset-Backed Securities and Structured Finance |
| | Asset Backed Securities (ABS) are securities that are issued with a structure that repayment is intended to be obtained from an identified pool of assets. | | | Similar to residential mortgage backed securities in form and function, however the mortgages in the pool are on multi-family or commercial real estate (industrial and warehouse properties, office buildings, retail space, shopping malls, cooperative apartments, hotels, motels, nursing homes, hospitals and senior living centers). | | | Issuance of the Commercial Paper will be backed up by a Liquidity Facility made up of banks that are committed to paying off maturing commercial paper, and perhaps, a credit derivative structure that protects investors, and/or a Credit Facility such as a Letter of Credit Facility that would provide additional over-collateralization of the assets. |
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http://www.credfinrisk.com/assetsecure.html
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| | Asset-backed Securities |
| | Investors in mortgage-backed securities assume little default risk because most mortgages are guaranteed by one of the government agencies. | | | Investors in mortgage-backed securities are, in face, purchasing a piece of a mortgage pool, taking into consideration such factors as maturity and the spread between the yield on the mortgage security and the yield on 10-year Treasuries (considered a benchmark in this market). | | | The assets that can be securitized seem to be limited only by the imagination of the packagers, as evidenced by the fact that by 1996 new asset types include royalty streams from films, student loans, mutual fund fees, tax liens, monthly electric utility bills, and delinquent child support payments. |
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http://www.womeninvesting.net/asset_backed_securities.html
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| | Asset-Backed Securities |
| | We have represented clients in CDO transactions securitizing a variety of assets, including high-yield bonds, bank loans, project loans, asset-backed securities, CBO/CLO debt and equity, perpetual floating rate notes, credit‑linked notes, common stock, stock index funds, synthetics securities, trust preferred stock, and real estate assets. | | | Orrick served as underwriter's counsel for utilities in Michigan, Pennsylvania and New Hampshire in connection with the offering of securities backed by stranded costs surcharges. | | | Orrick has served as counsel in connection with the origination and securitization of securities backed by franchisee loans. |
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http://www.orrick.com/practices/structured_finance/asset.asp
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| | III - Asset-backed Securities |
| | The asset-backed securities market has grown as different types of loans are securitized and sold in the investment markets. | | | Home equity loans accounted for 20.4 percent of asset-backed securities outstanding in 2003, up from 18.6 percent in 2002 and 10.5 percent in 1995. | | | Asset-backed securities (ABS) are bonds that represent pools of loans of similar types, duration and interest rates. |
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http://www.iii.org/financial2/securities/assetbacked?table_sort_735012=4
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| | Asset-Backed Securities - Munich American Re |
| | Most ABS backed by these loans have been issued by U.S. auto makers' captive finance subsidiaries, but independent finance companies and banks are also floor plan lenders and are beginning to issue securities backed by these assets. | | | A related asset class that has been securitized is dealer floor plan loans, which are loans made to auto dealers to finance purchases of automobiles for their inventory. | | | Since securities enhanced with letters of credit from these lenders faced possible downgrades as well, issuers began to issue cash collateral accounts instead of letters of credit in cases where external credit support was needed. |
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http://www.marclife.com/research/abs.htm
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| | asset backed securities |
| | News and information about asset backed securities can be hard to find, especially if you need specific advice not only about If you are totally fanatical about this then I highly recommend you check out this web site whilst this opportunity lasts, but also with crown asset and asset inventory. | | | My conversation with John lasted for hours and at the end of it I asked John if I could add some of his words of wisdom to a breakthrough enables you to find a product or service that delivers the kinds of choices you need to make educated decisions about asset backed securities. | | | Find asset backed securities directories, guides, & consumer resources. |
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http://www.1-replica-rolex-watches.com/asset/asset-backed-securities.html
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| | SEC asset-backed securities proposed rules |
| | Generally, because asset-backed securities are paid from cashflow from pooled assets, disclosure concerning transaction participants has been limited. | | | These materials are referred to as structural term sheets, collateral term sheets and computational materials and include information on the collateral, structure and expected performance of the assets and securities and are used by investors in analysing the proposed offering. | | | For assets that by their nature revolve (e.g., credit cards, home equity lines of credit), there is no limit on the amount of assets that may revolve or the length of the revolving period. |
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http://www.globalsecuritisation.com/04americas/136_139.htm
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| | Household: Investors - Asset Backed Securities |
| | Prospective investors should also consult their own financial and legal advisors about risks associated with investment in a particular issue of securities and the suitability of investing in the securities in light of their particular circumstances. | | | For further information concerning any of these securities, please consult with an investment advisor or broker. | | | This Website and the information contained herein has been prepared solely for informational purposes only and does not constitute an offer or the solicitation of an offer for the purchase or sale of any securities. |
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http://www.household.com/corp/hi_in_abs_data.jsp
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| | Asset-Backed Securities - Piper Jaffray |
| | Interest and principal payments in asset-backed securities come from a pool of consumer or business receivables and originate as loans issued by a wide range of businesses. | | | Asset-backed securities usually offer higher yields than other AAA-rated securities with comparable maturities. | | | One of our financial advisors can help you decide where asset-backed securities might fit in your investment portfolio. |
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http://www.piperjaffray.com/info3.aspx?id=174
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| | RealCorporateLawyer.com Asset-Backed Securities |
| | They are said to be "backed" by assets because the performance of asset-backed securities is dependent upon the performance of the underlying assets. | | | Are audited financial statements of an issuer of securities that are a part of the pool of underlying assets that back a publicly registered ABS required to be included in the prospectus for the publicly registered ABS? | | | An asset-backed security is said to be "credit enhanced" if there is some feature present in the transaction that makes it more likely that the holder of the asset-backed security will receive the principal or interest owed to her. |
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http://www.realcorporatelawyer.com/faqs/absfaq.html
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| | absreports.com - The Independent Securitisation Data Zone |
| | The guidelines are intended to provide a common ground of terms and requirements for publishing, confirming and comparing information regarding European asset- and mortgage-backed securities and improving the quality, uniformity and availability of pre- and post-issuance reporting for European securitisation transactions. | | | Our collaboration with Financial Times Interactive Data which was launched in spring of this year, now enables subscribers to absreports and FTID to view daily evaluations for over 1,000 individual European ABS securities in 12 asset classes including RMBS, Whole Business securitisation, Credit Cards, CLO (Synthetic and True sale), PFI/PPP and Lease deals. | | | absreports.com as a member of the Forum is grateful for the opportunity to have contributed to the production of the guidelines and is pleased to confirm our current asset class specific collateral and securities reporting fields substantially meet and exceed the new recommendations.. |
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http://www.absreports.com
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| | Radian Asset Backed Structured Finance - Asset Backed Securities |
| | By buying Radian-insured asset-backed securities, investors eliminate credit and downgrade risks and enjoy significant yield pickup compared with natural AA or AAA securities. | | | We concentrate solely on investment-grade transactions that are backed by high-quality assets, predictable cash flows or highly rated corporate obligations. | | | Radian originates and underwrites well-structured credit transactions in the rapidly growing global structured products market. |
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http://www.radianmi.com/structured/asset.aspx
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| | BNP Paribas Appoints Raphael Gonzalez Head of Asset Backed Securities Trading in New York - Forbes.com |
| | BNP Paribas is pleased to announce the appointment of Raphael Gonzalez as a Managing Director and head of Asset Backed Securities (ABS) trading. | | | The group enjoys key positions in Corporate and Investment Banking, Private Banking and Asset Management, Insurance, Securities Services and Retail Banking. | | | He is based in New York and reports jointly to Eric Dumas, head of global flow credit business and head of credit trading in North America and to David Mandel, head of US ABS. |
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http://www.forbes.com/businesswire/feeds/businesswire/2005/05/27/businesswire20050527005227r1.html
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| | The Bond Market Association |
| | The Australian Financial Market Association has published an AFMA Annex I, covering Australian domestic repo transactions in Australian dollar-denominated securities documented under either the GMRA 1995 or 2000. | | | The Association today issued a statement on the nomination of Representative Christopher Cox as Chairman of the Securities and Exchange Commission. | | | Congress Opens Social Security Hearings, Approves $2.6 Trillion Budget |
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http://www.bondmarkets.com
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| | Asset-Backed Securities |
| | during the so-called Amortisation Period, are the payments then used for the complete repayment of the Asset-Backed Securities. | | | In the case of the securitisation of revolving receivables a fixed issue volume with fixed maturity is backed by a pool of collateral comprising receivables of varied amounts and variable - sometimes also initially indefinite - maturity periods. | | | As a rule such structures are very complex, thus making special banking supervisory requirements a necessity, both for the protection of the selling bank and for that of the investors. |
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http://www.bakred.de/texte/rundsch/rs13_98e.htm
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| | FINANCING WITH ASSET-BACKED SECURITIES |
| | Sources of Value Added From Structuring Asset-Backed Securities to Reduce or Reallocate Risk | | | Special Issues Relating to Asset-Backed Securities in Malaysia | | | The advantages and disadvantages of asset securitization as a financing technique |
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http://pages.stern.nyu.edu/~igiddy/ibbm.htm
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