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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event
Reported) September 18, 1996
LEHMAN ABS CORPORATION, (as depositor under the Pooling and Servicing
Agreement, dated as of September 1, 1996, which forms Provident Bank Home
Equity Loan Trust 1996-1, which will issue the Home Equity Loan Trust 1996-1,
Home Equity Loan Asset-Backed Certificates, Series 1996-1).
LEHMAN ABS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 333-03911 13-3447441
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
Three World Financial Center
200 Vesey Street
New York, New York 10022
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(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 526-7000
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Item 5. Other Events.
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Incorporation of Certain Documents by Reference
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Pursuant to Rule 411 of Regulation C under the Securities Act of 1933
and in reliance on MBIA Insurance Corporation ("MBIA"), SEC No-Action Letter
(September 6, 1996), Lehman ABS Corporation (the "Company") will incorporate
by reference the financial statements of MBIA in the prospectus supplement
relating to Provident Bank Home Equity Loan Trust 1996-1. In connection with
the incorporation of such documents by reference, the Company is hereby
filing the consent of Coopers & Lybrand L.L.P. to the use of its name in such
prospectus supplement. The consent of Coopers & Lybrand L.L.P. is attached
hereto as Exhibit 23.
Item 7. Financial Statements, Pro Forma Financial
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Information and Exhibits.
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(a) Not applicable.
(b) Not applicable.
(c) Exhibit:
23. Consent of Coopers.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LEHMAN ABS CORPORATION
By: /s/ Martin P. Harding
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Name: Martin P. Harding
Title: Managing Director
Dated: September 19, 1996
Exhibit Index
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Exhibit Page
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23. Consent of Coopers . . . . . . . . . . . . . . . . . . . . . . . 6
Exhibit 23
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the Prospectus Supplement
dated September 18, 1996 of our report dated January 22, 1996, on our audits
of the consolidated financial statements of MBIA Insurance Corporation and
Subsidiaries as of December 31, 1995 and 1994 and for the three years ended
December 31, 1995. We also consent to the reference to our firm under the
caption "Experts".
/s/ Coopers & Lybrand L.L.P.
Coopers & Lybrand L.L.P.
September 19, 1996
New York, New York
