Despite the robust public ABS market, or perhaps in part because of it, true private asset-backed securities have been scarce, with volume steadily declining for the third straight year.

The market peaked in 1998 at just under $13 billion in issuance, dropping to $10 billion in 1999 and $2.5 billion last year, according to Thomson Financial. Currently, there has been less than $500 million in privately placed ABS year-to-date.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.