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Federal Reserve Board Set to Vote on Final Credit Risk Retention Rule

October 15, 2014

The Board of Governors of the Federal Reserve System announced today that an open meeting will be held at 3:30pm (EST) on Wednesday, October 22, 2014, to vote on adoption of a final credit risk retention rule under Section 941 of the Dodd-Frank Act.

Section 941 of the Dodd-Frank Act requires SEC, FDIC, Federal Reserve, OCC, FHFA, and HUD to jointly implement rules to require any securitized to retain an economic interest in a material portion of the credit risk for any asset that the securitized, through the issuance of an asset-backed security, transfers to a third party.

Proposed risk retention regulations were initially published on April 29, 2011, and were re-proposed in August 2014.