October 16, 2014 Alert - FDIC to Vote on Final Credit Risk Retention Rules on October 21st
On October 21, 2014 at 10:00 a.m. (EST), the Federal Deposit Insurance Corporation (“FDIC”) will hold a Board Meeting to discuss, among other issues, whether to adopt final Credit Risk Retention rules.

The Board meeting will take place one day earlier than the Board of Governors of the Federal Reserve’s (“FRB”) meeting to approve the same rule.

The FDIC meeting will be webcast live and subsequently made available approximately one week after the event. Please visit here to view the event.

SFIG will provide an update following the FDIC open session meeting. We will then hold a call on October 27th at 2:00 p.m. (EST) to walk through the key elements of the final rule.

If you would like to participate in SFIG’s Risk Retention Task Force, please contact Alyssa Acevedo.

The Securities and Exchange Commission, Office of the Comptroller of the Currency, the Treasury Department, the FRB, the FDIC, the Federal Housing Finance Agency, and the Department of Housing and Urban Development Notice of Proposed Rulemaking regarding credit risk retention can be found here and SFIG’s response can be found here.

SFIG also released a joint response with LSTA and SIFMA last year that focused on Open Market CLO’s, which can be found here.
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