Business and Personal Finance Dictionary

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• ABS
  
  1. Initials for asset-backed security. See asset-backed security. 2. The name for a convention used to express the rate of prepayments for an asset-backed security. ABS expresses principal prepayments as a percentage of the original number of loans or contracts in the pool of securitized loans that created the security. ABS is always expressed as a monthly rate.
  
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