Featured Product

    OCC Consults on Information Collection on Credit Risk Retention

    April 25, 2018

    OCC is soliciting comment concerning the renewal of its information collection titled “Credit Risk Retention.” OCC is also giving notice that it has sent the collection to OMB for review. Comments are to be submitted by May 25, 2018.

    This information collection request relates to 12 CFR part 43, which implements section 941(b) of the Dodd-Frank Act. Section 941(b) of the Dodd-Frank Act required OCC, FED, FDIC, SEC, and, in the case of the securitization of any residential mortgage asset, FHFA, and the Department of Housing and Urban Development (HUD) to issue rules that, subject to certain exemptions:

    • Require a securitizer to retain not less than 5% of the credit risk of any asset that the securitizer, through the issuance of an asset-backed security, transfers, sells, or conveys to a third party
    • Prohibit a securitizer from directly or indirectly hedging or otherwise transferring the credit risk that the securitizer is required to retain under the statute and implementing regulations

    Part 43 sets forth permissible forms of risk retention for securitizations that involve issuance of asset-backed securities, as well as exemptions from the risk retention requirements, and contains requirements subject to the Paperwork Reduction Act. OCC issued a notice for 60 days of comment regarding this collection on January 29, 2018. No comments were received. Comments continue to be invited on:

    • Whether the collection of information is necessary for the proper performance of the functions of OCC, including whether the information has practical utility
    • The accuracy of OCC's estimate of the information collection burden
    • Ways to enhance the quality, utility, and clarity of the information to be collected
    • Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology
    • Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information

     

    Related Link: Federal Register Notice

    Comment Due Date: May 25, 2016

    Keywords: Americas, US, Banking, Credit Risk, Securitization, Residential Mortgage, Risk Retention, OCC

    Related Articles
    News

    SEC Finalizes Capital and Margin Requirements for Security-Based Swaps

    SEC adopted a package of rules and rule amendments to establish capital, margin, and segregation requirements for security-based swaps, under Title VII of the Dodd-Frank Act.

    August 22, 2019 WebPage Regulatory News
    News

    ECB Revises Prudential Provisioning Expectations for New NPEs

    ECB is revising its supervisory expectations for prudential provisioning of new non-performing exposures (NPEs) specified in the “Addendum to the ECB Guidance to banks on non-performing loans” (Addendum)

    August 22, 2019 WebPage Regulatory News
    News

    CFTC Proposes to Revise Information Collection on Margin Requirements

    CFTC is requesting comments on the burdens associated with certain aspects of the Margin Requirements for Uncleared Swaps for Swap Dealers and Major Swap Participants (final rule).

    August 21, 2019 WebPage Regulatory News
    News

    FASB to Delay Effective Date for Insurance Contracts Standard

    FASB issued a proposed Accounting Standards Update that would grant all insurance companies that issue long-duration contracts, such as life insurance and annuities, additional time to apply the standard that addresses this area of financial reporting.

    August 21, 2019 WebPage Regulatory News
    News

    EBA Publishes Phase 2 of Technical Package on Reporting Framework 2.9

    EBA published phase 2 of its technical package on the reporting framework 2.9, which includes validation rules, Data Point Model (DPM) data dictionary, and XBRL taxonomies.

    August 21, 2019 WebPage Regulatory News
    News

    FSB Publishes Responses to Its Consultation Related to SME Financing

    FSB published responses received to the consultation on a report on the evaluation of the effects of financial regulatory reforms on small and medium-sized enterprise (SME) financing.

    August 21, 2019 WebPage Regulatory News
    News

    APRA Revises Related Entities Standard for Banks

    APRA published a strengthened prudential standard APS 222 on associations with related entities, with the aim to mitigate contagion risk within banking groups.

    August 20, 2019 WebPage Regulatory News
    News

    EBA and ESMA Issue Joint Response to EC Letter on Crypto-Assets

    EBA and ESMA issued a joint response to the EC letter, from July 19, 2019, on crypto-assets.

    August 20, 2019 WebPage Regulatory News
    News

    FSB on Responses to Consultation on Wind-Down of Trading Portfolios

    FSB published responses received to the consultation on the solvent wind-down of the derivatives and trading book portfolio of a global systemically important bank (G-SIB).

    August 19, 2019 WebPage Regulatory News
    News

    FSB Publishes Responses to Consultation on Resolvability Disclosures

    FSB published responses received to the consultation on disclosures for resolution planning and resolvability of banks.

    August 19, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3681