Groups scrutinize FDIC's plan for overhauling ABS market

07/1/2010 | Bloomberg Businessweek

Industry groups are raising concerns about a plan by the Federal Deposit Insurance Corp. to revamp part of the asset-backed securities market. The groups say the plan could hinder credit and the economic recovery. The FDIC's proposal would require financial institutions that sell securitized loans to retain 5% of the credit risk in order to receive protection that increases the attractiveness of the bonds.

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