Consumer ABS

Volkswagen Leasing has no plans to issue a privately placed auto ABS deal but it is currently marketing the new VCL 12 deal to investors.

The U.K. Financial Services Authority (FSA) will apply banking book risk weights to securitization trading positions following the position adopted under the capital requirements directive (CRD 3) passed by the European Parliament at the end of July.

Federal Deposit Insurance Corp. (FDIC) Chairman Sheila Bair said Tuesday the agency would soon publish an interim rule on its new resolution authority over systemically important banking companies and certain nonbanks.

Dennis Cariello has joined DLA Piper's New York office. In his new position, Cariello will continue to focus on higher education issues. He will also be serving as a co-chair of the new education and education services group.

The securitization market just can't seem to get a break. From tougher regulations to a battered economy, our industry seems at times to be facing an all-out assault.

While it's clear that tighter rules for securitization are on their way, varying approaches to the issue by different agencies are making bankers and issuers uneasy.

The Federal Reserve announced in August that the central bank would be purchasing Treasurys by using the proceeds from maturing MBS to support the country's economic recovery.

The Securities and Exchange Commission (SEC) issued a report Tuesday cautioning credit rating agencies about deceptive ratings conduct.

Volkswagen Leasing is prepping to launch a €475 million ($602 million) auto lease ABS deal dubbed VCL 12 with pricing scheduled for next week, published reports indicate.

Kurtzman Carson Consultants (KCC), an El Segundo, Calif.-based provider of bankruptcy administrative services, added a director of corporate restructuring services, the firm announced Tuesday.