A trio of industry associations announced the creation of a working group to restore confidence in the securitization markets.

The Securities Industry and Financial Markets Association, the American Securitization Forum, and the European Securitsation Forum, announced that they have formed a global, joint working group — the Joint Securitization Markets Working Group — that will develop recommendations designed to help revitalize the securitization and structured credit markets, and bolster investor and broader public confidence in those markets.

The associations said that the goals of this initiative include enhancing market discipline and transparency, while preserving the role that securitization plays in funding credit needs.

“Examining a full range of issues related to these markets, but with a view toward specific, practical solutions that will make a long-term impact, is something that the working group is uniquely positioned to do,” says Tim Ryan, president and CEO of SIFMA.

This initiative will be co-led by Sanjeev Handa, head of global public markets at TIAA-CREF, and Jeffrey Perlowitz, managing director & co-head of global securitized markets at Citi.