While new-issue supply in the U.S. ABS market grew nearly 30% over the same period in 2002, growth was limited to a pair of asset classes — real estate ABS and student loans — in the fourth quarter 2003 (see supplement).

As could be expected, mortgage-related ABS increased by more than 61% versus 4Q02 and student loan ABS increased further -- 68.3% versus the same period the year before, according to data provided by Thomson Financial. Auto ABS was flat and credit card supply saw a 32% decline.

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