Credit Risk Retention by Securitizers

ICR 202405-1557-002

OMB: 1557-0249

Federal Form Document

Forms and Documents
ICR Details
1557-0249 202405-1557-002
Received in OIRA 202101-1557-003
TREAS/OCC
Credit Risk Retention by Securitizers
Extension without change of a currently approved collection   No
Regular 07/29/2024
  Requested Previously Approved
36 Months From Approved 07/31/2024
167 167
2,835 2,835
0 0

The OCC, FRB, FDIC, SEC, FHFA, and HUD have issued a final rule to implement the credit risk retention requirements of section 15G of the Securities Exchange Act, as added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under the rule, the securitizer of asset-backed securities must retain a minimum of 5% of the credit risk of the assets collateralizing the asset-backed securities. The rule includes a number of recordkeeping and disclosure requirements.

Statute at Large: 124 Stat. 1891 Name of Statute: Dodd-Frank Wall Street Reform and Consumer Protection Act
  
Statute at Large: 124 Stat. 1891 Name of Statute: Dodd-Frank Wall Street Reform and Consumer Protection Act
US Code: 15 USC 78o-11 Name of Law: The Securities Exchange Act of 1934

Not associated with rulemaking

  89 FR 43976 05/20/2024
89 FR 60491 07/25/2024
No

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 167 167 0 0 0 0
Annual Time Burden (Hours) 2,835 2,835 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

No
    No
    No
No
Yes
No
No
Kevin Korzeniewski 202 874-5090

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
07/25/2024


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