Regulators give banks breathing room on securitized assets

08/31/2009 | EuroWeek

Regulators, led by the Federal Deposit Insurance Corp., plan to phase in rules that require banks to bring nearly $900 billion in securitized assets onto their balance sheets rather than implement the rules at once. Meanwhile, the American Securitization Forum, an affiliate of SIFMA, asked the FDIC to amend the securitization rule to maintain its safe-harbor provision. "The rule has been an essential part of the legal analysis performed by counsel to issuers providing legal opinions required by underwriters and rating agencies," ASF wrote in its letter to the FDIC.

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