ABS Vegas 2015: Registration and Sponsorship Now Open
Sponsorship and registration are open for SFIG and IMN's ABS Vegas 2015, the largest capital markets conference in the world. Join us February 8-11, 2015 at the Aria Resort & Casino in Las Vegas as we expect to welcome 5,500 industry participants for three-and-a-half days of cutting-edge educational sessions and ample networking activities.
For individual registration, click here. For sponsorship opportunities, please contact Chris Keeping at IMN.
BCBS Releases Final NSFR Standard
On October 31, the Basel Committee on Banking Supervision (“BCBS”) issued a final standard for the Net Stable Funding Ratio (“NSFR”), 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.
The Case For A Better Functioning Securitization Market
SFIG's comment letter on the recent Bank of England and European Central Bank proposal to revitalize securitization markets in the EU was submitted on July 14th. SFIG is also engaging IOSCO, BCBS and IAIS in their efforts to revitalize global securitization markets.
Read about how SFIG and policymakers are promoting securitization as a funding tool for the real economy through various advocacy initiatives.
Project RMBS 3.0 leading the way to reform the PLS Market
SFIG's Project RMBS 3.0 Task Force has begun work on the Second Edition Green Papers, the release of which is planned to coincide with SFIG and IMN's Private Label RMBS Reform Symposium. The event is the first of its kind aimed at addressing the major obstacles that remain in the revitalization of a private label RMBS market.
Registration is available here.
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.
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.
Treasury Advocates Restoration of the PLS Market
The Treasury Department is examining the role of the private label MBS market in the current and future housing finance system. Input from issuers and investors will serve as a basis for developing market practices and standards to support a responsible PLS market.
In comments developed by the Residential Mortgage Committee, GSE Reform Task Force, and RMBS 3.0 Task Force—over 600 individual members—SFIG provides Treasury with the industry's response.
SEC Issues NRSRO Final Rules
Under final rules recently approved by the SEC, nationally recognized statistical rating organizations ("NRSROs") and other due diligence providers will be subject to significant limitations on activities beyond the assignment of credit ratings. SFIG is working with rating agencies, accounting firms, law firms and other members of the Credit Rating Reform Task Force to assist with their understanding of the rules and has published a briefing book as part of the education effort.
Please contact Amanda Bateman to join the Credit Rating Reform Task Force and learn more.
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
Following the release of the First Edition RMBS 3.0 "Green Papers," SFIG provided the Treasury Department with its recommendations regarding the development of a responsible private label mortgage backed securities market. Read SFIG's latest comment letter.
SFIG’s membership continues to grow in both numbers and diversity.
There are currently more than 260 institutions representing all segments of the securitization industry contributing to our membership-driven agenda..
Apply for membership today.
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 260 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.