Practical Law Canada Glossary 1-580-5210 (Approx. 2 pages)
Glossary
Asset-Backed Security (ABS)
Defined in section 1.1 of National Instrument 51-102 - Continuous Disclosure Obligations as a security that is primarily serviced by the cash flows of a discrete pool of mortgages, receivables or other financial assets, fixed or revolving, that by their terms convert into cash within a finite period and any rights or other assets designed to assure the servicing or the timely distribution of proceeds to securityholders.