Man from Moody's sums it up

Patrick Eng, senior vice-president at Moody''s in Australia gives his thoughts on the asset-backed market.

How would you assess the current state of the market

Eng In 2001 we saw around A$28.2 billion $15.4 billion of issuance, of which 90% was residential mortgage backed securitization RMBS. The forecast for this year is approximately A$32 billion - RMBS will definitely make up most of the total, but we're also seeing a broadening of asset classes compared to previous years. The growth rates in the Australian securitization market have been quite phenomenal we've had average annual growth of around 21% in the past five years. The market is the sixth biggest in the world ignoring the US by volume of issuance and second if you just look at RMBS issuance. However,...

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