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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) February 8, 1996
LEHMAN ABS CORPORATION, (as depositor under the Pooling and
Servicing Agreement, dated as of December 29, 1995, which forms
Lehman Home Equity Loan Trust 1996-1, which will issue the Lehman
Home Equity Loan Trust 1996-1, Revolving 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 33-99494 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 Financial Security Assurance Inc., SEC No-Action Letter
(July 16, 1993), Lehman ABS Corporation (the "Registrant") will incorporate
by reference the financial statements of Financial Security Assurance, Inc.,
into the Registrant's registration statement (File No. 33-99494). The
financial statements will be referred to in the prospectus supplement
relating to Lehman Home Equity Loan Trust 1996-1. In connection with the
incorporation of such documents by reference, the Registrant is hereby filing
the consent of Coopers & Lybrand L.L.P. ("Coopers & Lybrand") to the use of
their name in such prospectus supplement. The consent of Coopers & Lybrand
is attached hereto as Exhibit 1.
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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:
1. Consent of Coopers & Lybrand L.L.P.
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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 Harding
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Martin Harding
Dated: February 8, 1996
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Exhibit Index
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Exhibit Page
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1. Consent of Coopers & Lybrand L.L.P.
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EXHIBIT 1
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(COOPERS & LYBRAND LETTERHEAD)
CONSENT TO INDEPENDENT ACCOUNTANTS
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We consent to the incorporation by reference in the Prospectus Supplement (to
Prospectus dated December 21, 1995) of Lehman ABS Corporation relating to
Lehman Home Equity Loan Trust 1996-1 of our report dated January 16, 1995 on
our audits of the consolidated financial statements of Financial Security
Assurance Inc. and Subsidiaries. We also consent to the reference to our
Firm under the caption "Experts".
/s/ COOPERS & LYBRAND L.L.P.
COOPERS & LYBRAND L.L.P.
New York, New York
February 7, 1996
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