The market for asset-backed securities is off to one of its best months ever as banks and other issuers rush to take advantage of strong investor demand and low interest rates.

Through the first four days of August, the market absorbed $2.8 billion of asset-backeds. On Aug. 1 alone, NationsBank Corp. and Ford Motor Co. each completed $1 billion offerings. The $1.05 billion NationsBank's deal was a credit card issue, while the Ford securities were for dealer floor plans, which trade like credit card securities.

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