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13 November 2014


  • Julie A. Gillespie
    T +1 312 701 7132
  • Eric M. Reilly
    T +1 704 444 3581
  • Louis C. Shansky
    T +1 212 506 2170

Analysis of the Final Credit Risk Retention Rule

Section 15G of the Exchange Act, as amended by Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, generally requires any sponsor or securitizer of asset-backed securities (“ABS”) to retain at least 5 percent of the credit risk of the assets supporting the ABS, and generally prohibits the sponsor from eliminating or reducing its credit exposure by hedging or other means. On October 22, 2014, several federal regulatory agencies announced the adoption of final credit risk retention rules that define the required level of risk retention and permissible forms thereof. They also set forth certain exclusions and exemptions from the risk retention requirements for certain asset types.

Please join Mayer Brown partners Julie Gillespie and Eric Reilly and associate Louis Shansky as they discuss the final rules and provide an overview of the impact on CLOs, RMBS, CMBS, auto loan securitizations, ABCP conduits and revolving master trusts.

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13 November 2014

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