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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

5 Private-Equity Trends to Watch in 2018

In the recovery period following the great recession there was a surge of private-equity investment in the auto finance space, but since then enthusiasm has waned. Several firms are looking for an exit ramp from properties they have sunk billions of dollars into as delinquencies soar. Independent finance companies have been unable to stop delinquencies […]

Ally, Santander Hit Hardest From Harvey, Await Irma Reports

As analysts seek to assess auto damages in Florida after Hurricane Irma made landfall over the weekend, damage from Hurricane Harvey is coming into focus. The latest report from Morgan Stanley predicts Ally Financial and Santander Consumer USA could see earnings declines of 12% to 18%, given their high concentration of vehicle loans in the Houston […]

Deep Subprime Auto Securities Grow to 32% of the Market

The share of deep subprime auto loan securities has grown to nearly a third of the total subprime auto ABS market, Morgan Stanley researchers said in a March report. Auto securities considered deep subprime — Fico scores below 550 — have increased to 32.5% of the subprime market, up from 5.1% in 2010, the report […]

IPO Underwriters Increase Take Of Ally Stock

Underwriters on Ally Financial Inc.’s initial public offering have elected to partially exercise the over-allotment option to buy an additional 7.2 million shares of Ally common stock at the $25 IPO price from the U.S. Treasury Department. The deal, expected to close May 14, would leave Treasury with 16% of Ally’s common stock and would net […]