Devil in the Details
Don’t know the difference between an asset-backed security and your ass? We’re here to help.
Illustrations by Cat Sims
Asset-backed securities (ABS) ABS is an umbrella term for various types of short-term debt securities that are backed by longer-term, less liquid loans. (The term “securitization” refers to the creation and issuance of asset-backed securities.) ABS are typically issued by a special-purpose entity sponsored by an investment bank. The vehicle buys up a package of […]
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