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ARTICLE · 03 NOVEMBER 2014

Financial Regulatory Developments Focus - 29 October 2014

A&O Shearman
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Six federal agencies jointly adopted final risk retention rules imposing 5% risk retention, or "skin-in-the-game," requirements for securitizations.

United StatesFinance and Banking
A&O Shearman
A&O Shearman
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In this newsletter, we provide a snapshot of the principal European, U.S. and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructures, asset managers and corporates.

Bank Prudential Regulation & Regulatory Capital

U.S. Federal Agencies Jointly Release Final Risk Retention Rule

On October 23, 2014, six federal agencies – the U.S. Securities and Exchange Commission ("SEC"), Office of the Comptroller of the Currency ("OCC"), Board of Governors of the Federal Reserve System ("Federal Reserve Board"), Federal Deposit Insurance Corporation ("FDIC"), Department of Housing and Urban Development ("HUD") and the Federal Housing Finance Agency ("FHFA") – jointly adopted final risk retention rules imposing 5% risk retention, or "skin-in-the-game," requirements for securitizations. The final rule exempts securitizations of "qualified residential mortgages" ("QRMs") from the risk retention requirement and does

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