Consumer ABS

Citigroup has hired Peter Babej, the former co-head of Americas financial institutions at Deutsche Bank, according to a Bloomberg report.

After financial reform, GSEs should be the next sector dealt with, said Federal Deposit Insurance Corp. (FDIC) Chair Sheila Bair at the University of Pennsylvania today. Text of her speech follows:

The U.K.'s decision this week to scrap the Financial Services Authority (FSA) may signal that consolidated supervision doesn't work. But more likely it shows that the structure of bank regulation is beside the point.

Ally Bank is in the market with a $792.3 million transaction. Deutsche Bank Securities, JPMorgan Securities and RBS Securities are lead managing the securitization.

Despite the ABCP market initially getting help from the European Central Bank (ECB), program sponsors across the pond are still struggling with having a smaller market and a limited investor base.

The second day of Information Management Network’s Global ABS 2010 conference started with a panel that looked back at the financial crisis.

Players in the European consumer ABS sector are asking for more deal data and prefer simpler securitization structures.

Speakers at Information Management Network’s Global ABS 2010 discussed what it would take to rebuild the European ABS market and the factors hindering it from coming back at a panel called Restoring Confidence and Rebuilding the Industry: The Role of Securitization.

Responding to the Securities and Exchange Commission's (SEC) proposed changes to Reg AB for ABS, BNY Mellon introduced new modeling and reporting capabilities.

The opening of Information Management Network’s (IMN) Global ABS 2010 was marked by some hope for a European ABS market resurgence.