Agencies Request Comment on Re-Proposed Risk Retention Rule

Six federal agencies – including the Board of Governors of the Federal Reserve System, Department of Housing and Urban Development, Federal Deposit Insurance Corporation, Federal Housing Finance Agency, Office of the Comptroller of the Currency, and the SEC – issued a notice revising a proposed rule requiring sponsors of securitization transactions to retain risk in those transactions. The new proposal revises a proposed rule which the agencies issued in 2011 to implement the risk retention requirement in Dodd-Frank. Linked below is a description of the re-proposal prepared by the Structured Finance Industry Group.

See: Text of Proposed Rule; Joint Press Release.
See also: Memo Recommending Board of Directors Approval of Re-Proposed Risk Retention Rules.
See also: Dissenting Statements of SEC Commissioners Gallager and Piwowar.