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    <RIN_INFO>
        <RIN>3235-AK96</RIN>
        <PUBLICATION>
            <PUBLICATION_ID>201210</PUBLICATION_ID>
            <PUBLICATION_TITLE>The Regulatory Plan and the Unified Agenda of Federal Regulatory and Deregulatory Actions</PUBLICATION_TITLE>
        </PUBLICATION>
        <AGENCY>
            <CODE>3235</CODE>
            <NAME>Securities and Exchange Commission</NAME>
            <ACRONYM>SEC</ACRONYM>
        </AGENCY>
        <RULE_TITLE>Credit Risk Retention</RULE_TITLE>
        <ABSTRACT><![CDATA[The Federal banking agencies, the Commission, and, in the case of securitization of any "residential mortgage asset," the Secretary of Housing and Urban Development and the Federal Finance Agency (collectively the "Agencies"), are required by section 941 of the Dodd-Frank Act to jointly prescribe regulations on risk retention in offerings of asset-backed securities.  The joint regulations proposed by the Agencies would meet the Act's requirement that securitizers of asset-backed securities retain not less than 5 percent of the credit risk for any asset that is transferred, sold, or conveyed through the issuance of an asset-backed security by the securitizer.  Pursuant to section 941, the proposed joint regulations would implement the Act's mandate that asset-backed securities collateralized by qualified residential mortgages, as defined in such joint regulations, be exempt from risk retention.  In accordance with the Act, the joint regulations would provide that asset-backed securities collateralized by certain assets that meet specified underwriting standards, as prescribed by the Federal banking agencies, may have less than 5 percent risk retention.]]></ABSTRACT>
        <PRIORITY_CATEGORY>Substantive, Nonsignificant</PRIORITY_CATEGORY>
        <RIN_STATUS>Previously Published in The Unified Agenda</RIN_STATUS>
        <RULE_STAGE>Final Rule Stage</RULE_STAGE>
        <MAJOR>Undetermined</MAJOR>
        <UNFUNDED_MANDATE_LIST>
            <UNFUNDED_MANDATE>No</UNFUNDED_MANDATE>
        </UNFUNDED_MANDATE_LIST>
        <CFR_LIST>
            <CFR>Not Yet Determined</CFR>
        </CFR_LIST>
        <LEGAL_AUTHORITY_LIST>
            <LEGAL_AUTHORITY>PL 111-203, sec 941</LEGAL_AUTHORITY>
            <LEGAL_AUTHORITY>15 USC 78o-11</LEGAL_AUTHORITY>
        </LEGAL_AUTHORITY_LIST>
        <LEGAL_DLINE_LIST>
            <LEGAL_DLINE_INFO>
                <DLINE_TYPE>Statutory</DLINE_TYPE>
                <DLINE_ACTION_STAGE>Final</DLINE_ACTION_STAGE>
                <DLINE_DATE>04/15/2011</DLINE_DATE>
                <DLINE_DESC>The Dodd-Frank Act requires adoption of final rules 270 days after enactment.</DLINE_DESC>
            </LEGAL_DLINE_INFO>
        </LEGAL_DLINE_LIST>
        <RPLAN_ENTRY>No</RPLAN_ENTRY>
        <TIMETABLE_LIST>
            <TIMETABLE>
                <TTBL_ACTION>NPRM</TTBL_ACTION>
                <TTBL_DATE>04/29/2011</TTBL_DATE>
                <FR_CITATION>76 FR 24090</FR_CITATION>
            </TIMETABLE>
            <TIMETABLE>
                <TTBL_ACTION>NPRM Comment Period End</TTBL_ACTION>
                <TTBL_DATE>06/10/2011</TTBL_DATE>
            </TIMETABLE>
            <TIMETABLE>
                <TTBL_ACTION>NPRM Comment Period Extended</TTBL_ACTION>
                <TTBL_DATE>06/10/2011</TTBL_DATE>
                <FR_CITATION>76 FR 34010</FR_CITATION>
            </TIMETABLE>
            <TIMETABLE>
                <TTBL_ACTION>NPRM Comment Period Extended End</TTBL_ACTION>
                <TTBL_DATE>08/01/2011</TTBL_DATE>
            </TIMETABLE>
            <TIMETABLE>
                <TTBL_ACTION>Final Action</TTBL_ACTION>
                <TTBL_DATE>01/00/2013</TTBL_DATE>
            </TIMETABLE>
        </TIMETABLE_LIST>
        <RFA_REQUIRED>No</RFA_REQUIRED>
        <GOVT_LEVEL_LIST>
            <GOVT_LEVEL>Undetermined</GOVT_LEVEL>
        </GOVT_LEVEL_LIST>
        <FEDERALISM>Undetermined</FEDERALISM>
        <FURTHER_INFO_URL>www.gov.sec/rules/proposed/2011/34-64148.pdf</FURTHER_INFO_URL>
        <PRINT_PAPER>No</PRINT_PAPER>
        <INTERNATIONAL_INTEREST>No</INTERNATIONAL_INTEREST>
        <RELATED_AGENCY_LIST>
            <RELATED_AGENCY>
                <AGENCY>
                    <CODE>2500</CODE>
                    <NAME>Department of Housing and Urban Development</NAME>
                    <ACRONYM>HUD</ACRONYM>
                </AGENCY>
                <AGENCY_RELATION>Joint</AGENCY_RELATION>
            </RELATED_AGENCY>
            <RELATED_AGENCY>
                <AGENCY>
                    <CODE>2590</CODE>
                    <NAME>Federal Housing Finance Agency</NAME>
                    <ACRONYM>FHFA</ACRONYM>
                </AGENCY>
                <AGENCY_RELATION>Joint</AGENCY_RELATION>
            </RELATED_AGENCY>
        </RELATED_AGENCY_LIST>
        <AGENCY_CONTACT_LIST>
            <CONTACT>
                <FIRST_NAME>Arthur</FIRST_NAME>
                <LAST_NAME>Sandel</LAST_NAME>
                <TITLE>Division of Corporation Finance</TITLE>
                <AGENCY>
                    <CODE>3235</CODE>
                    <NAME>Securities and Exchange Commission</NAME>
                    <ACRONYM>SEC</ACRONYM>
                </AGENCY>
                <PHONE>202 551-3783</PHONE>
                <MAILING_ADDRESS>
                    <STREET_ADDRESS>100 F Street NE,</STREET_ADDRESS>
                    <CITY>Washington</CITY>
                    <STATE>DC</STATE>
                    <ZIP>20549</ZIP>
                </MAILING_ADDRESS>
            </CONTACT>
        </AGENCY_CONTACT_LIST>
    </RIN_INFO>
</REGINFO_RIN_DATA>
