UNITED STATES

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): May 19, 2006

MORGAN STANLEY ABS CAPITAL I INC.

(as depositor under the Pooling and Servicing Agreement, dated as of June 1, 2006, providing for the issuance of Mortgage Pass-Through Certificates, Series 2006-NC4)

Morgan Stanley ABS Capital I Inc.

(Exact name of registrant as specified in its charter)

Delaware	333-130694-03	13-3939229
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

1585 Broadway, New York, New York		10036
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (212) 761-4000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

~~[_]~~o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

~~[_]~~o Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

~~[_]~~o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

~~[_]~~o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~Item~~SECTION ~~2.01 Acquisition or~~1- ~~Disposition~~Registrant’s ofBusiness ~~Assets.~~and Operations

~~Description~~Item of1.01 - ~~the~~Entry ~~Certificates~~into ~~and~~a ~~the~~Material ~~Mortgage~~Definitive ~~Pool~~Agreement.

On ~~June~~November 237, 2006, ~~a series of certificates, entitled~~ Morgan Stanley ABS Capital I Inc. ~~Trust~~ ~~2006-NC4~~ (the “~~Certificates~~Depositor”), ~~was~~entered ~~issued~~into Amendment ~~pursuant~~No. to1 a(the ~~pooling~~“Amendment”) ~~and~~to the Pooling ~~servicing~~and ~~agreement~~Servicing Agreement, dated as of June 1, 2006 (the “~~Agreement”),~~Pooling ~~attached~~and ~~hereto~~Servicing ~~as Exhibit 4.1~~Agreement”), among Morgan Stanley ABS Capital I Inc. as depositor (the “Depositor”), Wells Fargo Bank, N.A. as a servicer (a “Servicer”), New Century Mortgage Corporation as a servicer (a “Servicer”), NC Capital Corporation as responsible party (the “Responsible Party”) and Deutsche Bank National Trust Company as trustee (the “Trustee”)~~. The Certificates consist of seventeen classes of certificates (collectively~~, ~~the~~relating ~~“Certificates”),~~to ~~designated as~~ the ~~Class~~ ~~A-1~~Morgan ~~Certificates,~~Stanley ~~Class~~ABS ~~A-2a~~Capital ~~Certificates, Class A-2b Certificates, Class~~I ~~A-2c~~Inc. ~~Certificates,~~Trust ~~Class A~~2006-~~2d Certificates~~NC4, ~~Class~~Mortgage MPass-1Through Certificates, ~~Class M-2~~Series ~~Certificates, Class M~~2006-~~3 Certificates, Class M-4 Certificates, Class M-5~~NC4. Certificates, Class M-6 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates, Class P Certificates, Class R Certificates and Class X Certificates, collectively, the “Certificates.” The ~~Certificates~~ ~~evidence~~full intext ~~the aggregate the entire beneficial ownership interest in a trust fund (the “Trust Fund”), consisting~~ of ~~a pool of mortgage loans (~~the ~~“Mortgage Pool”)~~Amendment ofis ~~fixed~~attached ~~and~~as ~~adjustable rate, first and second lien residential mortgage loans (the “Mortgage Loans”)~~Exhibit 4. ~~The Mortgage Pool consist of Mortgage Loans having an aggregate principal balance of approximately $~~2~~,157,140,044 as~~ ~~of June 1, 2006 (the “Cut-off Date”). The Mortgage Loans were purchased pursuant~~ to ~~the~~ ~~Agreement.~~this ~~The Class A-1 Certificates, Class A-2a Certificates, Class A-2b~~Current ~~Certificates,~~Report ~~Class~~on ~~A-2c~~Form ~~Certificates, Class A~~8-2dK. ~~Certificates,~~Any ~~Class~~terms ~~M-1 Certificates,~~used ~~Class~~but ~~M-2~~not ~~Certificates,~~defined ~~Class~~herein ~~M-3~~shall ~~Certificates,~~have ~~Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3 Certificates were sold by~~ the ~~Depositor~~meanings toset ~~Morgan~~forth ~~Stanley~~in ~~& Co. Incorporated (~~the ~~“Underwriter”),~~Pooling ~~pursuant to an Underwriting Agreement, dated May 19, 2006 (the “Underwriting Agreement”) between the Depositor~~ and ~~the~~Servicing ~~Underwriter~~Agreement.

~~The~~SECTION ~~Class P~~9- ~~Certificates,~~Financial ~~the~~Statements ~~Class R Certificates~~ and the Class X Certificates were delivered by the Depositor to Morgan Stanley Mortgage Capital Inc. (the “Seller”) as partial consideration for the mortgage loans constituting the pool assets and such transaction is exempt from registration under the Securities Act of 1933, as amended pursuant to Section 4(2) of that Act.Exhibit

The Certificates have the following initial Certificate Balances and Pass-Through Rates:

Item 9.01	Financial Statements and Exhibits

	(a)	Not applicable

	(b)	Not applicable

	(c)	Exhibits

Class	Initial Certificate Principal Balance(1)		Pass-Through Rate(2)
Exhibit No.	Description
				Offered Certificates
4.2	Amendment No. 1 to the Pooling and Servicing Agreement, dated as of June 1, 2006, among Morgan Stanley ABS Capital I Inc. as depositor (the “Depositor”), Wells Fargo Bank, N.A. as a servicer (a “Servicer”), New Century Mortgage Corporation as a servicer (a “Servicer”), NC Capital Corporation as responsible party (the “Responsible Party”) and Deutsche Bank National Trust Company as trustee (the “Trustee”), relating to the Series 2006-NC4 Certificates.
				Class A-1	$	536,150,000	Variable
Class A-2a	$	575,060,000	Variable
Class A-2b	$	182,020,000	Variable
Class A-2c	$	234,060,000	Variable
Class A-2d	$	145,570,000	Variable
Class M-1	$	102,464,000	Variable
Class M-2	$	100,307,000	Variable
Class M-3	$	34,514,000	Variable
Class M-4	$	38,829,000	Variable
Class M-5	$	34,514,000	Variable
Class M-6	$	30,200,000	Variable
Class B-1	$	31,279,000	Variable
Class B-2	$	23,729,000	Variable
Class B-3	$	22,650,000	Variable

~~(1) Approximate.~~SIGNATURES

~~(2)~~Pursuant to ~~The~~the ~~pass-through~~requirements ~~rate~~of onthe ~~each~~Securities ~~class~~Exchange ~~Certificates~~Act ~~will~~of be1934, ~~based~~the onregistrant has duly ~~one-month~~caused ~~LIBOR~~this ~~plus~~report ~~the~~to ~~applicable~~be ~~margin~~signed ~~set~~on ~~forth~~its inbehalf ~~the~~by ~~Agreement, subject to~~ the ~~rate~~undersigned ~~caps~~thereunto duly ~~described in the Agreement~~authorized.

~~The~~Dated: ~~Certificates,~~November ~~other than the Class P Certificates~~10, ~~the Class R Certificates and the Class X Certificates, and the Mortgage Loans are more particularly described in the Prospectus Supplement, dated May 19,~~ 2006 (the “Prospectus Supplement”), and the Prospectus, dated March 14, 2006, as previously filed with the Securities and Exchange Commission pursuant to Rule 424(b). The Class P Certificates, the Class R Certificates and the Class X Certificates have not been and will not be publicly offered by the Depositor. Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Prospectus Supplement.

Item 9.01.	Financial Statements, Pro Forma Financial Information and Exhibits.
(a)		Not applicable
(b)		Not applicable
(c)		Exhibits:

	Exhibit No.	Description
	1.1	Underwriting Agreement, dated as of May 19, 2006, between Morgan Stanley ABS Capital I Inc. as Depositor and Morgan Stanley & Co. Incorporated as Underwriter.
	99.1	Pooling and Servicing Agreement, dated as of June 1, 2006 among Morgan Stanley ABS Capital I Inc., as Depositor, Wells Fargo Bank, N.A., as a Servicer, New Century Mortgage Corporation, as a Servicer, NC Capital Corporation, as Responsible Party and Deutsche Bank National Trust Company, as Trustee, relating to the issuance of the Mortgage Pass-Through Certificates, Series 2006-NC4.
	99.2	Bill of Sale, dated as of June 23, 2006, between Morgan Stanley Mortgage Capital Inc. as seller (the “Seller”) and the Depositor.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: July 10, 2006


	MORGAN STANLEY ABS CAPITAL I INC.

		By: /s/ Steven Shapiro

		Name: Steven Shapiro Title: Managing Director

~~EXHIBIT~~Index ~~INDEX~~to Exhibits

Exhibit Number	Sequentially Numbered Description
Exhibit No.		Description	Sequentially Numbered Page
1.1	Underwriting Agreement, dated as of May 19, 2006, between Morgan Stanley ABS Capital I Inc. as Depositor and Morgan Stanley & Co. Incorporated as Underwriter.
4.2		Amendment No. 1 to the Pooling and Servicing Agreement, dated as of June 1, 2006, among Morgan Stanley ABS Capital I Inc. as depositor (the “Depositor”), Wells Fargo Bank, N.A. as a servicer (a “Servicer”), New Century Mortgage Corporation as a servicer (a “Servicer”), NC Capital Corporation as responsible party (the “Responsible Party”) and Deutsche Bank National Trust Company as trustee (the “Trustee”), relating to the Series 2006-NC4 Certificates.	6
99.1	Pooling and Servicing Agreement, dated as of June 1, 2006 among Morgan Stanley ABS Capital I Inc., as Depositor, Wells Fargo Bank, N.A., as a Servicer, New Century Mortgage Corporation, as a Servicer, NC Capital Corporation, as Responsible Party and Deutsche Bank National Trust Company, as Trustee, relating to the issuance of the Mortgage Pass-Through Certificates, Series 2006-NC4.
99.2	Bill of Sale, dated as of June 23, 2006, between Morgan Stanley Mortgage Capital Inc. as seller (the “Seller”) and the Depositor.

Filing Compare · Morgan Stanley ABS Capital I Inc. Trust 2006-NC4