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SEC RIN: 3235-AK96 Publication ID: Spring 2011 
Title: ●ABS Risk Retention 
Abstract: 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 Housing 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 five 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 low risk assets, such as qualified residential mortgages, be exempt from risk retention. 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: PL 111-203 sec 941    15 USC 78o-11   
Legal Deadline:
Action Source Description Date
Final  Statutory  The Dodd-Frank Act requires adoption of final rules 270 days after enactment.  05/17/2011 
Timetable:
Action Date FR Cite
NPRM  04/29/2011  76 FR 24090   
NPRM Comment Period End  06/10/2011    
Final Action  07/00/2011    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Undetermined 
Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Information URL: www.gov.sec/rules/proposed/2011/34-64148.pdf  
RIN Data Printed in the FR: No 
Related Agencies: Joint: HUD, FHFA; 
Agency Contact:
Jay Knight
Division of Corporation Finance
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-3430
Email: knightj@sec.gov