Canadian Classification of Institutional Units and Sectors (CCIUS) 2012

• S1 - Total economy
• S12 - Financial corporations
• S123 - Other financial intermediaries except insurance corporations and pension funds
• S1233 - Issuers of asset backed securities
• S12330 - Issuers of asset backed securities

S123302 - National private issuers of asset backed securities

This subgroup consists of national privately controlled issuers of financial arrangements under which payments of interest and principal are backed by payments on specified assets or income streams, namely asset-backed securities and collateralized debt obligations.
Asset-backed securities are classified as debt securities due to the fact that the security issuers have a requirement to make payments while the holders do not have a residual claim on the underlying assets. Asset-backed securities may be issued by a specific holding unit or vehicle, which issues securities that are sold to raise funds to pay the originator for the underlying asset. Securitization may also be used as a term to describe the process.