Mission: In response to comments received on the 1st consultative document on the securitization framework, the Basel Committee issued a 2nd consultative document in December 2013. The focus of these proposals is international model rules for banks’ calculation of credit risk capital requirements for exposures to securitization transactions. SFIG worked with GFMA, CREFC, IIF, and JSF to comment on this second document, submitted on March 24th. We previously raised questions we needed clarification on with Basel Committee representatives on February 11th. After our comment letter was submitted, we met with with them again in early April with more of an advocacy approach. Representatives from the Joint Associations will meet with U.S. and global regulators in London prior to Global ABS in June.