FDIC seeks rule changes on securitization

11/13/2009 | Bloomberg

Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., said the agency is striving to get rules on securitization changed. Tom Deutsch, deputy executive director of the American Securitization Forum, an affiliate of SIFMA, said the FDIC might also propose fees, possibly based on securities' performance, for credit rating companies and underwriters. He also said the agency might seek increased disclosure for investors, more flexibility of securitized debt for servicers and a risk-retention requirement for issuers.

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