Divided FDIC Proposes Securitization Rule With Risk Retention, Disclosure Requirements
May 14, 2010
The Federal Deposit Insurance Corp. brushed aside objections from MBS issuers and pushed ahead with a tough new proposed rule that would require securitization sponsors to retain a 5 percent interest in the transaction and make extensive initial and ongoing disclosures. The agency made two significant changes to a preliminary draft of the proposal by dropping a...