SFIG Spotlight

Momentum Continues to Build for ABS Vegas 2015

SFIG and IMN's ABS Vegas 2015, the largest capital markets conference in the world, takes place February 8-11 at the Aria Resort & Casino. With 2,500 market participants and 133 sponsors currently registered, ABS Vegas 2015 is on track to welcome over 5,500 attendees.

If you have not already done so, register here to enjoy three-and-a-half days of cutting-edge educational sessions and ample networking opportunities. For sponsorship opportunities, please contact Chris Keeping.

SFIG Launching Women in Securitization at ABS Vegas 2015

SFIG announced the launch of Women in Securitization, an initiative designed to facilitate an environment in the securitization community that encourages women's ambition and advancement. The initiative is open to all industry members, and will be celebrated with a special event on February 8, 2015 at ABS Vegas. Register for Women in Securitization here.

For questions about Women in Securitization, please contact Mary Robinson.

BCBS-IOSCO Consult on "Simple, Transparent and Comparable" ABS

The Basel Committee on Banking Supervision and International Organization of Securities Commissions have released their long-anticipated Criteria for identifying simple, transparent and comparable securitisations. The criteria aims to identify and assist with the development of sustainable securitization structures, as well as help parties to a transaction evaluate the associated risks.

BCBS and IOSCO are actively engaging the industry on the revitalization global securitization markets. Contact Amanda Bateman to contribute to SFIG's response.

Basel Committee Finalizes Revisions to the Securitization Framework

The Basel Committee finalized revisions to the securitization framework that strengthen capital standards for bank-held securitization exposures. The revisions include a streamlined hierarchy of approaches for calculating risk-based capital requirements, changes to the risk drivers, and calibration of the amount of capital banks must hold.

SFIG was part of a Joint Associations group that submitted comments in March 2014 in response to the BCBS' earlier consultation. Contact Amanda Bateman to learn more.

EBA Proposes High Quality Securitization Framework

The European Banking Authority (“EBA”) is seeking input from market participants on principles to identify simple, standard and transparent securitization outlined in its Discussion Paper released on October 14th. Under the EBA HQS framework, qualifying securitizations would receive preferential regulatory capital and liquidity treatment in exchange for meeting certain criteria.

SFIG's HQS Task Force is working to evaluate the criteria against different asset classes and respond to the EBA. To contribute to this effort, please email Amanda Bateman.

Treasury Highlights Inclusion of RMBS 3.0 In Their "Benchmark Transaction"

On November 12th, SFIG & IMN held their Private Label RMBS Reform Symposium and over 500 participants discussed critical issues holding back the PLS market, with a key focus on SFIG's RMBS 3.0 Project. Keynote speaker, Treasury’s Dr. Michael Stegman, stated "The benchmark transaction would include whatever consensus terms have been achieved thus far by the RMBS 3.0 effort, serving as a first road test of sorts for these emerging market standards."

Read SFIG’s RMBS 3.0 Second Edition Green Papers to learn more.

SFIG Working Through Regulation AB II Comment Letter

Following the U.S. Security and Exchange Commission's adoption of a final Regulation AB II rule, SFIG began its work on the development of a comment letter on the proposed rules that remain outstanding. To join this effort, please contact Mary Robinson.

To learn more about Regulation AB II, please see SFIG’s high-level summary of the final rule here and in-depth review here, both of which were prepared by Stephen S. Kudenholdt, Partner, Dentons LLP.

Stay Current with SFIG’s Legislative and Regulatory Briefing Books

SFIG’s Briefing Books are in-depth reference guides for securitization professionals looking to stay current on policy issues affecting the industry. For example, read SFIG’s Briefing Books on the Risk Retention, Regulation AB II, Liquidity Coverage Ratio and NRSRO Due Diligence final rules provide a helpful discussion on how these new rules might impact different elements of the securitization industry.

SFIG is also developing industry guides which will focus on the establishment of consensus positions and best practices for critical elements of the rules. Learn more.

Annual Conference

SFIG and IMN are excited to host ABS Vegas 2015 on February 8-11 in Las Vegas. The three-and-a-half day program, developed by leaders who represent the most active firms in ABS, will feature coverage of the most pressing issues facing the marketplace.

Register for the event

Latest Advocacy

On November 10, 2014 SFIG released our Second Edition RMBS 3.0 Green Papers in continuation of our efforts to revitalize the private label mortgage backed securities market. The new and updated materials build upon our initiative to restore market confidence.

Learn more about RMBS 3.0 here.

Membership

SFIG’s membership continues to grow in both numbers and diversity.

There are currently more than 270 institutions representing all segments of the securitization industry contributing to our membership-driven agenda..

Apply for membership today.

About SFIG

SFIG was established with the core mission of supporting a robust and liquid securitization market, recognizing that securitization is an essential source of core funding for the real economy. Under this mission, we are dedicated to:

1) Educating members, legislators, regulators, and other constituencies about structured finance, securitization and related capital markets,

2) Building the Broadest Possible Consensus among members on policy, legal, regulatory and other matters affecting or potentially affecting the industry

3) Advocating with respect to policy, legal, regulatory and other matters affecting or potentially affecting the industry, and

4) Core Principles of Governance, Financial Transparency, Inclusion and respectful accommodation of divergent member views.

We provide a representative and transparent member-driven platform for industry education and advocacy. While we are based in Washington, DC, our members’ interests extend globally.

We boast more than 270 institutional members (and growing), including investors, issuers, and all other participants in the structured finance industry. As a member-driven organization our advocacy is committee-based, with over 50 committees and taskforces actively engaged in representing broad industry viewpoints across all aspects of the regulatory and legislative agenda.

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