The current ABS market is reminiscent of an earlier one where issuance came from traditional sectors such as autos, credit cards and student loans.

Although issuance is not expected to surge in the earlier part of 2009, Street analysts are hoping that by 2H09, the backlog of assets that need term funding will find its way to the ABS market. Market observers believe that, despite the current consumer credit crunch, there are still securitization issuers that need to access the ABS market as a funding tool.

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