Fitch sees renewed growth in Asian RMBS

Expect RMBS to overtake consumer ABS as the dominant cross border issuance in Asia.
Issuance volumes for cross-border structured finance products in the Asia-Pacific region will likely remain flat this year, predicts Fitch Ratings. But the asset classes of transactions contributing to issuance volumes are expected to change measurably.

Fitch says that that the primary shift in issuance type will come from Korea where the agency anticipates a decline in traditional asset-backed securities ABS issuance and a re-emergence of the residential mortgage-backed securities RMBS product.

Fitch anticipates a shift in the volume of cross-border issuance in Korea away from the three primary ABS issuers, Samsung Card, LG Card, and Hyundai Capital towards RMBS, says Wit Solberg, senior director and head of Fitch's non-Japan Asia structured finance team. Solberg...
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