CDOs/CLOs

The Securities and Exchange Commission has released its telephone interpretations on Item 122 of Regulation AB. These were released after Paula Dubberly, SEC associate director, gave a preview on the Commission's stance on this item at the recently concluded American Securitization Forum conference held in Las Vegas.

In a move that will make its Spring ABS 2007 have more of an international focus, Information Management Network will be working closely with the International Finance Corp. (IFC) to create a full day of emerging markets coverage at IMN's Miami conference to be held on April 29 to May 2.

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Wachovia Corp 998.8 1 22.4 2 HSBC Holdings PLC 859.4 2 19.3 1 Banc of America Securities LLC 797.1 3 17.9 2 JP Morgan 704.8 4 15.8 2 Barclays Capital 598.8 5 13.5 1 Morgan Stanley 492.3 6 11.1 1 Industry Total 4,451.1 - 100.0 5 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Barclays Capital 2,323.0 1 27.5 1 Bear Stearns & Co Inc 1,485.8 2 17.6 3 JP Morgan 918.0 3 10.9 2 Citigroup 767.7 4 9.1 1 Morgan Stanley 675.0 5 8.0 2 Banc of America Securities LLC 669.0 6 7.9 1 Deutsche Bank AG 603.3 7 7.2 2 Goldman Sachs & Co 500.0 8* 5.9 1 Lehman Brothers 500.0 8* 5.9 1 Industry Total 8,441.7 - 100.0 14 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues JP Morgan 2,000.0 1 41.9 1 Banc of America Securities LLC 1,812.4 2 38.0 5 Wachovia Corp 962.5 3 20.2 3 Industry Total 4,774.9 - 100.0 8 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Citigroup 4,881.5 1 14.8 8 Morgan Stanley 3,946.7 2 12.0 3 Merrill Lynch 3,666.8 3 11.1 4 Deutsche Bank AG 3,652.5 4 11.1 3 Lehman Brothers 2,981.8 5 9.0 7 Royal Bank of Scotland Group 2,669.7 6 8.1 4 Bear Stearns & Co Inc 1,979.1 7 6.0 5 Barclays Capital 1,766.8 8 5.4 6 Credit Suisse 1,668.0 9 5.1 2 UBS 1,351.5 10 4.1 2 Industry Total 32,987.0 - 100.0 47 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Goldman Sachs & Co 1,380.7 1* 29.5 1 Lehman Brothers 1,380.7 1* 29.5 1 Banc of America Securities LLC 1,380.7 1* 29.5 1 JP Morgan 541.2 4 11.6 1 Industry Total 4,683.2 - 100.0 2 Source: Thomson Financial

auto ABS 10% credit card ABS 8% catatrophe bonds 0% enterprise finance 0% equipment ABS 2% real estate ABS 70% structured settlements 0% student loan ABS 8% trade receivables 1% utilities ABS 0%

Guy Carpenter & Co., a global risk and reinsurance specialist, appointed Chi Hum as global head of distribution for insurance-linked securities in its investment banking specialty practice. The move is a bid to strengthen the firm's capital markets investor contacts and place securities and derivatives with investors.