Proposed Securitization Reforms Under the Revised Financial Reform Bill in the U.S. Senate

more+
less-

On March 15, 2010, Senator Christopher Dodd (D-Connecticut), Chairman of the Committee on Banking, Housing and Urban Affairs of the U.S. Senate (the “Senate Banking Committee”), released a draft of a financial reform bill to be entitled the “Restoring American Financial Stability Act of 2010” (the “Dodd Bill”).

The Dodd Bill represents Senator Dodd’s second proposal of major financial reform legislation during the 111th Congress. His first attempt took the form of a discussion draft, the “Restoring American Financial Stability Act of 2009,” released on November 10, 2009 (the “November Senate Proposal”). One month following the release of the November Senate Proposal, on December 10, 2009, the U.S. House of Representatives passed its own version of major financial reform legislation, the “Wall Street Reform and Consumer Protection Act of 2009,” often referred to as the “Wall Street Reform Act” (the “House Bill”). All three versions of proposed financial reform legislation contain provisions intended to reform the securitization markets, focusing principally on the concept of “credit risk retention” that would require originators and securitizers of financial assets to retain a portion of the credit risk of securitized financial assets or, in more popular terms, to have “skin in the game.”

Please see full bulletin below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

more+
less-

Morrison & Foerster LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×