01/08/2015 01:00 p.m. - 02:00 p.m. EST
Banking + Financial Services, Capital Markets, Financial Institutions + Financial Services, and Investment Management
Kenneth E. Kohler
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The Federal Deposit Insurance Corporation (the “FDIC”), the Federal Housing Finance Agency (the “FHFA”), and the Office of the Comptroller of the Currency (the “OCC”) each adopted a final rule (the “Final Rule”) implementing the credit risk retention requirements of section 941 of the Dodd-Frank Act for asset-backed securities (“ABS”). The risk retention rules were initially proposed by the Joint Regulators in March 2011 and re-proposed in August 2013 (the “Re-Proposal”). The Final Rule will become effective one year from the date of publication in the Federal Register for residential mortgage-backed securities (“RMBS”) and two years from the date of publication in the Federal Register for all other ABS.
As required by the Dodd-Frank Act, the Final Rule generally requires securitizers in both public and private securitization transactions to retain not less than 5% of the credit risk of the assets collateralizing any ABS issuance. This webcast will address the key provisions of the Final Rule adopted by the FDIC, FHFA, and OCC, including:
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