FDIC plans to advance proposed rules for ABS market

05/11/2010 | Bloomberg

The Federal Deposit Insurance Corp. is considering rules related to risk retention and disclosure for the asset-backed-securities market. Industry groups and banks have encouraged the FDIC to tone down or forgo the proposal. "The proposed seasoning and retention requirements would likely have significant unintended consequences on the availability of credit in the home-finance market and expose banks to additional interest-rate risk," wrote Adam Gilbert, a managing director at JPMorgan Chase.

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