Your bank has need for liquidity and has an excess of auto loans. You decide to pool $500M of these loans and sell units of ownership of these loans to the public in the way of asset-backed securities. What is the fundamental financial effect of this transaction?

a. change a type of liability to asset

b. change a type of asset to a liability

c. transform a type of asset into another type of asset

d. transform a type of liability into another type of liability