Internationalasset-backed securities, Also referred to as ABS.debt securities (debt security) (such as bonds or notes) which are issued in the course of a securitisation and backed, that is funded by and secured over, a portfolio of cash flow-generating assets such as credit card receivables, trade receivables, auto loans and leases (though not, generally, mortgage loans as these are more commonly referred to as "mortgage-backed securities").+ asset-backed security (ABS)USAA debt security on which payments of principal and interest are made to the holders from revenue generated by an underlying pool of assets (usually mortgages, credit card receivables, student loans or other loans, or a combination of these). The underlying assets are pledged to the holders of the security as collateral for the payment by the issuer of principal and interest on the security. Asset-backed securities are most commonly issued by a special purpose entity as part of a securitization or structured finance transaction.Glossary
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.