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Moody’s to establish standard for quantifying cyber risk

Moody’s Corp. is working to establish a global standard for quantifying and assessing cyber risk for financial institutions. Through a joint venture with think-tank Team8, Moody’s will develop technology tools and methods to measure and analyze cyber risks facing lenders. Derek Vadala, global head of cyber risk for Moody’s, was named chief executive of the […]
  • Nicole Casperson
  • July 10, 2019
  • Risk

Fifth Third Returns to Securitization Market With $1.3B Transaction

Fifth Third Bank’s latest $1.37 billion offering marks the bank’s return to the auto ABS market after a two-year hiatus. The 2019-1 transaction will be Fifth Third’s first auto securitization since the prime lender issued a $1 billion offering in September 2017. While the two transactions share similarities, there are distinctions to be made in […]

Weaker Credit Quality Spurs Higher Loss Forecast for Exeter Securitization

Moody's Investor Service bumped up cumulative net loss expectations 1% in Exeter Finance’s most recent securitization to offset the weaker credit quality of the underlying loans. The weighted average credit score for the $572.9 million transaction was 556, “the lowest Fico seen in recent transactions,” said Moody’s Senior Credit Officer Daniela Jayesuria of the securitization slated […]

Losses on Track to Improve in Santander’s Latest Securitization

Santander Consumer USA‘s first asset-backed securitization of the year is on track for lower losses relative to prior pools, despite higher loan-to-value ratios and a smaller percentage of new vehicles in the pool, according to Moody’s Investors Service. Moody’s assigned a 24% cumulative net loss expectation to the $1.2 billion transaction, which is slated to […]

Auto ABS Heats Up With $3.2B of Issuance

A trio of securitizers pumped up ABS volume last week, bringing year-to-date issuance to $64.5 billion, according to Deutsche Bank. Nissan, Mercedes-Benz, and CarMax combined for $3.21 billion of issuance last week, according to rating reports by S&P Global Ratings and Moody’s. Nissan Motor Acceptance Corp. completed its second auto loan transaction of the year, […]