ASSET BACKED SECURITIES CORP, DEL AM, 1998-10-01

ASSET BACKED SECURITIES CORP
DEL AM, 1998-10-01
ASSET-BACKED SECURITIES

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                    Asset Backed Securities Corporation
                              11 Madison Avenue
                             New York, NY 10010


                               October 1, 1998

Securities and Exchange Commission
Mail Stop 3-10
450 Fifth Street, N.W.
Washington, D.C. 20549

          Re: Asset Backed Securities Corporation
              Registration Statement No. 333-64351 on Form S-3


Ladies and Gentlemen:

     Reference is made to the above-referenced Registration Statement,
File No. 333-64351, filed with the Securities and Exchange Commission
(the "Commission") on September 25, 1998. The final paragraph on the cover
of the Registration Statement is hereby amended to read as follows:


     "The Registrant hereby amends this Registration Statement on such
date or dates as may be necessary to delay its effective date until
the Registrant shall file a further amendment which specifically
states that this Registration Statement shall thereafter become
effective in accordance with Section 8(a) of the Securities Act of
1933 or until this Registration Statement shall become effective on
such date as the Commission, acting pursuant to said Section 8(a),
may determine."



                               Sincerely yours,

                               ASSET BACKED SECURITIES CORPORATION

                               By: /s/ Erik Falk
                                   ---------------------
                                   Name: Erik Falk
                                   Title: Vice President