Wall Street Urges Federal Agencies to Take a Mulligan on Controversial Risk-Retention Rule
June 17, 2011
The proposed rule on risk retention for MBS and ABS needs to be re-drafted and published again for another round of public comment because many definitions are unclear and, as it stands now, the proposal is a viable threat to the securitization market, according to industry groups. Although federal regulators recently extended the comment period on the proposal, both the Se-curities Industry and Financial Markets Association and the American Securitization Forum submitted detailed critiques of the plan late last week. “SIFMA has described...
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