Financial Services Industry
Industry: Email Alert RSS FeedSecuritization options blossom. (asset-backed commercial paper) (includes related article on Federal Agricultural Mortgage Corp.)
ABA Banking Journal, August, 1993 by Cocheo, Steve
Asset-backed commercial paper is a popular form of securitization and increasing numbers of banks are offering the service to satisfy client demand. Residential mortgages made up the majority of asset-backed commercial paper in the past, but the definition of the category has broadened to include almost every kind of asset and the structure of the deals has become increasingly complex. Among the new types of assets being considered for securitization are health care receivables and credit card receivables.
For years, if the subject turned to securities backed by loans, you were mostly talking about residential mortgages.
Nowadays, the assets considered eligible for securitization are seemingly bounded only by the imagination of Wall Street and bank investment...
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