The Basel Committee on Banking Supervision and IOSCO proposed criteria for identifying "simple, transparent, and comparable" short-term securitizations.
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A New York bank agreed to settle allegations by the Board of Governors of the Federal Reserve System concerning deficiencies in the bank's capital treatment of certain assets.
The SEC Division of Corporation Finance provided guidance to issuers of Asset-Backed Securities regarding certain programming changes to the EDGAR system.
The SEC Division of Corporation Finance provided guidance to issuers of asset-backed securities concerning changes under the EDGAR system in response to adopted revisions to Regulation AB and Exchange Act Rule 15Ga-2.
The SEC set the compliance date for amendments to Regulation AB. Regulation AB consolidates and codifies existing interpretative positions that clarify Securities Act of 1933 registration requirements for asset backed securities offerings. The relevant amendments require asset-level disclosure for offerings of asset-backed securities backed by residential mortgages, commercial mortgages, auto loans, auto leases and debt securitizations (including resecuritizations). The asset-level data requirements are applicable only to securitizations in which the initial bona fide offer occurs on or after