SFIG Spotlight

ABS Vegas 2015: Speaker Nominations Now Open

Speaker nominations are now being accepted for SFIG and IMN's ABS Vegas 2015, the largest capital markets conference in the world taking placeFebruary 8-11, 2015 at the Aria Resort & Casino in Las Vegas. Nominate a securitization expert to help us welcome 5,500 industry participants for three-and-a-half days of cutting-edge educational sessions and ample networking activities.

SFIG members should submit their nominations here and non-members may access the form here. For questions, please contact 2015Vegas@SFIndustry.org.

SFIG Releases RMBS 3.0 Second Edition Green Papers

SFIG is pleased to announce the release of the Second Edition of RMBS 3.0 Green Papers. The new and updated materials build upon our growing RMBS 3.0 initiative, which is aimed at restoring confidence to the “private label” residential mortgage-backed securities (“RMBS”) market. The release coincides with SFIG/IMN’s Private Label RMBS Reform Symposium, which took place on November 12th in New York and hosted over 450 attendees.

To learn more about RMBS 3.0 and join the Task Force, please contact Mary Robinson.

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 recently released RMBS 3.0 Second Edition Green Papers to learn more.

High Quality Securitization Task Force Launched by SFIG

SFIG is pleased to announce the creation of our newest working group, the High Quality Securitization (“HQS”) Task Force. The HQS Task Force will serve as the forum through which SFIG will respond to recent initiatives that seek to define “qualifying securitizations,” such as the European Banking Authority’s (“EBA’s”) Discussion Paper on simple standard and transparent securitization, which was released on October 14th.

If you are interested in joining the HQS Task Force please email Amanda Bateman.

SFIG Releases Credit Risk Retention Regulatory Briefing Book

SFIG is pleased to announce the publication of an in depth review of the final Risk Retention rules. This review, authored by Mayer Brown, is the latest in our Regulatory Briefing series, which also includes the NRSRO Briefing Book, Regulation AB II Briefing Book, and Liquidity Coverage Ratio Briefing Book.

Next, SFIG will develop Industry Guides on Risk Retention, Regulation AB II and NRSRO Due Diligence and has created working-groups for each. To participate in the Risk Retention work-stream, please contact Alyssa Acevedo.

Regulators Approve Final Credit Risk Retention Rules

On October 21st, the Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Securities and Exchange Commission, Federal Housing Finance Agency, and Department of Housing & Urban Development approved the final rule on Credit Risk Retention. A detailed summary of the rule provided by the FDIC is available here.

If you would like to participate in SFIG’s Risk Retention Task Force, please contact Alyssa Acevedo.

Regulation AB II Final Rule Approved by SEC

SFIG is launching two important Regulation AB II workstreams following the adoption of a final Regulation AB II rule. These include: (1) the development of a comment letter on the proposed rules that remain outstanding and (2) the production of an industry guide that establishes consensus and best practices for critical elements of the rule.

SFIG’s high-level summary of the final rule can be found here and in-depth review can be found here, both of which were prepared by Stephen S. Kudenholdt, Partner, Dentons LLP. To learn more, please contact Alyssa Acevedo.

BCBS Releases Final NSFR Standard

On October 31, the Basel Committee on Banking Supervision issued a final standard for the Net Stable Funding Ratio, which will become a minimum standard by January 1, 2018.

SFIG’s response to the BCBS’ January 2014 consultative proposal can be found here. SFIG’s Regulatory Capital and Liquidity Committee will review the final standard to understand the impact to the securitization industry and will develop a comment letter when U.S. regulators release their proposed NSFR. If you would like to participate, please contact Alyssa Acevedo.

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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