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S. Korea's ABS issuance hits record high in 2013

SEOUL, Jan. 22 (Yonhap) -- The issuance of asset-backed securities (ABS) in South Korea hit a record high in 2013 in a bid to secure more funds amid a rise in corporate bond yields, the financial watchdog said Wednesday. ABS issuance rose to an all-time high of 51.3 trillion won (US$48 billion) last year, up 7.8 percent from the previous year, according to the Financial Supervisory Service (FSS). Asset-backed securities are derived from underlying assets such as car loans, home equity loans, credit card receivables and student loans.

No deal between Greece and creditors on loan release

Greek Finance Minister Yannis Stournaras said Monday that talks with the nation's foreign lenders had ended without a deal for the disbursement of a vital one-billion-euro slice of financial aid. "No, there was no agreement," the minister said after negotiations on the future of the heavily indebted arms manufacturer Hellenic Defence Systems (EAS), one of the state firms under audit by creditors.

Albanian gov't debt to businesses totals 246 mln U.S. dollars

TIRANA, Dec. 4 (Xinhua) -- The Albanian government debt to businesses for unpaid public works until August 31 is estimated at 24.6 billion leks(246 million U.S. dollars), Finance Minister Shkelqim Cani said at a news conference on Wednesday. "My aim, not the government's pledge, is to clear the debt in a single tranche, not in several tranches, aiming at stimulating the economy," Cani said.

Italy unlocks first tranche of private-sector debt repayments

Italy has unlocked 15.7 billion euros ($20.1 billion) in state debt arrears to private companies as part of the first of two 20-billion-euro tranches, the finance ministry said Monday. Unblocking the funds was a key demand of the employers' federation Confindustria to help the many companies struggling through Italy's longest recession in 20 years. Italy in March announced it would pay back the first tranche in the second half of 2013 and the other in 2014.

ABS issuance up 35.5 pct in H1

SEOUL, July 18 (Yonhap) -- The issuance of asset-backed securities (ABSs) in South Korea soared 35.5 percent in the first half of this year, as the state-run mortgage agency jacked up its sale of the financial instrument, the financial regulator said Thursday. Mortgage agencies and local financial and non-financial companies floated a total of 26.8 trillion won (US$23.9 billion) worth of ABSs in the January-June period, compared with 19.8 trillion won a year earlier, according to the Financial Supervisory Service (FSS).

Shuanghui's $4 billion loan raises $5 billion so far

By Jacqueline Poh and Sandra Tsui LONDON (Reuters) - The $4 billion loan backing Chinese pork producer Shuanghui International's $4.7 billion bid for U.S. meat processor Smithfield Foods <SFD.N> has raised $5 billion from banks so far and could rise to $9 billion, banking sources said on Friday.

ECB's Liikanen urges open mind on asset-backed securities

By Jussi Rosendahl HELSINKI (Reuters) - The European Central Bank must keep an open mind on all policy tools, including buying asset-backed securities (ABS), to get lending flowing to small businesses, Governing Council member Erkki Liikanen said on Tuesday. The ECB's interest rate cuts have had a muted impact on lending to small businesses, particularly in the euro zone periphery where banks are worried about taking on risk.

Looser bank buffer rules no panacea for Europe woes

* Basel agreement seen giving banks more capacity to lend * But weak economy weighs on credit demand * Uncertain outlook also means banks nervous about lending * Rules changes may have bigger impact in U.S. than Europe By Paul Carrel and Marc Jones
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