ABS

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.

Jefferies has added two professionals to its fixed income emerging markets sales and trading efforts in Asia, the firm announced today.

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.

Carlos Mendez will lead the newly created structured finance group at Sandler O’Neill and Partners, the firm announced today.

European ABS investors showed strong support for increased issuance in the ABS public market, according to a survey published today by Bishopsfield Capital Investors.

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

Many finance directors at different U.K., French and German firms indicated that they intend to make more use of receivables-based financing, according to a study by Demica.

The Mortgage Bankers Association (MBA) is pleased with the National Association of Insurance Commissioner's (NAIC's) shelved the proposed increase in the risk-based capital (RBC) factor from 2.6% to 4.0%.

Ford Motor Credit Co. has filed a shelf registration for a new auto receivables securitization deal using the Ford Credit Auto Owner Trust.

EFS Volunteer is in the market with a $227.9 million transaction. The offering is backed by FFELP.

Bank of America Trust 2010-2 is in the market with a $1,002.1 million transaction. The offering is backed by automobile loans.

RAM Holdings Ltd. announced the repurchase of $25.0 million of its 6.875% senior notes due 2024 for $14.3 million, realizing a gain of $10.7 million.

Quantifi announced the release of two new products- Quantifi CVA (Credit Valuation Adjustment) and Quantifi Counterparty Risk - currently in beta testing with a select few clients.

The performance landscape for U.S. dealer floorplan ABS is likely to improve for the already resilient asset class, according to Fitch Ratings.

Blocking Rescues, or Challenging Bum Deals?

Many troubled banks are pleading with investors to sell trust-preferred securities back to them at a discount, warning they may fail otherwise. But a small group of investors are calling the banks' requests a bluff.

Guggenheim Securities, a Guggenheim Partners subsidiary, hired Robert Brennan and Anand Gajjar for its commercial real estate finance group as senior managing directors.