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Google Invests in Asset-Backed Securities Tied to Auto Loans

Google Inc. is steering millions of dollars into asset-backed securities tied mostly to auto loans and consumer credit card payments.

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Google Inc. is steering millions of dollars into asset-backed securities tied mostly to auto loans and consumer credit card payments, the Wall Street Journal reported Wednesday.

The Mountain View, Calif.-based company recently purchased triple A-rated debt from Honda Motor Co. and Hyundai Corp, the publication noted. Of Google’s $40 billion assets, ABS represents less than 1%.

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