On August 28, 2013, six federal agencies released a revised risk retention proposal for asset-backed securities as mandated by the Dodd-Frank Act. There are a number of key differences between this notice and the agencies' initial 2011 rule proposal affecting securitization transaction sponsors. As the October 30 deadline for comments on the proposal approaches, there are concerns that it is highly prescriptive and would not give credit for many commonly used forms of risk retention.
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