New Rules on Asset-Backed Securities

26 August 2010
Hosted By: The Knowledge Congress

In light of the nearly catastrophic crash of the market in 2008, regulators are now pursuing legislation aimed at tightening up rules governing bank-created asset-backed securities. The FDIC has recently proposed that banks hold onto at least 5% of these securities or risk government seizure of these assets in the event of a failure, and the SEC has also proposed a similar rule. NERA Senior Vice President Dr. Faten Sabry discussed the implications of these proposals during a live webcast, hosted by The Knowledge Group on 26 August 2010. Dr. Sabry examined the SEC's proposed revisions to Regulation AB regarding the offering process, disclosure, and reporting for asset-backed securities. She also discussed the economic impact of the risk retention regulations on the cost and availability of credit to consumers and businesses. The other panelists included John Kiff, Senior Economist at International Monetary Fund; Jordan E. Yarett, Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP; and Chuck Weilamann, Senior Vice President at DBRS, Inc.

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