Definitions for "Asset-Backed Securities"
Debt instruments backed by a loan or accounts receivable originated by banks, credit card companies, or other providers of credit (does not include mortgages).
Securities backed (securitized) by a pool of receivables that are issued and sold by a trust or special purpose vehicle (SPV). The receivables in the pool may carry varying degrees of risk and payment terms.
Bonds or notes backed by loan paper or accounts receivable originated by banks or other providers of credit.