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
Action Date FR Cite
NPRM  04/29/2011  76 FR 24090   
NPRM Comment Period End  06/10/2011    
NPRM Comment Period Extended  06/10/2011  76 FR 34010   
NPRM Comment Period End  08/01/2011    
Next Action Undetermined  To Be Determined 
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