These securities are known as Asset-backed Securities (ABS), an umbrella term used to refer to a kind of security that derives its value from a pool of assets, which could be a bond, home loans, car loan, or even credit card payments. Post the global financial crisis of 2008, and there was a huge buzz about some sophisticated financial securities known as CDOs, CMBS, & RMBS, and how they played a big role in the build-up of the crisis.
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