RIN Data
FHFA | RIN: 2590-AA43 | Publication ID: 2012 |
Title: Credit Risk Retention for Asset-Backed Securities | |
Abstract: The Federal Housing Finance Agency (FHFA), along with the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Securities and Exchange Commission, and Department of Housing and Urban Development (the Agencies) proposed regulations to implement the credit risk retention requirements of section 15G of the Securities Exchange Act (15. U.S.C. sec. 78o-11), as added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 15G generally requires the securitizer of asset-backed securities to retain not less than five percent of the credit risk of the assets collateralizing the asset-backed securities. Section 15G includes a variety of exemptions from these requirements, including an exemption for asset-backed securities that are collateralized exclusively by residential mortgages that qualify as "qualified residential mortgages," as such term is defined by the Agencies by rule. | |
Agency: Federal Housing Finance Agency(FHFA) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Long-Term Actions |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 1234 | |
Legal Authority: 12 USC 4511(b) 12 USC 4526 12 USC 4617 15 USC 78o-11 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Information URL: www.regulations.gov; www.fhfa.gov | Public Comment URL: www.regulations.gov; www.fhfa.gov |
RIN Data Printed in the FR: No | |
Related Agencies: Joint: TREAS/OCC, FRS, FDIC, SEC, HUD; | |
Agency Contact: Thomas E. Joseph Senior Attorney-Advisor Federal Housing Finance Agency 400 Seventh Street SW., Washington, DC 20219 Phone:202 649-3076 TDD Phone:800 877-8339 Email: thomas.joseph@fhfa.gov |