ASF says regulatory proposal would be "disaster for the economy"

09/23/2009 | International Financing Review

Jason Kravitt, deputy chairman of the American Securitization Forum, an affiliate of SIFMA, said a regulatory proposal that would boost capital charges and reserve requirements for banks would be a "disaster for the economy." The proposal was a joint effort from the Federal Reserve, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Office of Thrift Supervision. Kravitt said the proposal, which would include using control-based accounting rules to determine risk-based capital requirements, would kill securitization.

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