4-70 Identify a major reason behind the increase in domestic underwriting activity during the 1990s.

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The growth in the asset-backed securities market was a major reason behind the increase in domestic underwriting activity during the 1990s. This market refers to securities that are backed by pools of assets such as mortgages, auto loans, and credit card receivables. This market grew significantly during the 1990s, leading to increased demand for underwriting services.

4-70 Identify a Major Reason Behind the Increase in Domestic