Recordkeeping and Disclosure Requirements Associated with Regulation RR

In 2014, the Board, Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC) (collectively, the Federal banking agencies), U.S. Securities and Exchange Commission (SEC), Federal Housing Finance Agency (FHFA), and Department of Housing and Urban Development (HUD) (collectively, the agencies) adopted a joint final rule (credit risk retention rule) that implemented the credit risk retention requirements of section 15G of the Securities Exchange Act of 1934 (Exchange Act), which was added by section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Board’s credit risk retention rule, which applies to any securitizer of asset-backed securities (securitizer) that is a state member bank (SMB) or a subsidiary of an SMB, is codified in the Board’s Regulation RR - Credit Risk Retention (12 CFR 244). The SEC’s rules regarding credit risk retention (17 CFR 246) apply to any securitizer that is not an insured depository institution (IDI) or a subsidiary of an IDI. Regulation RR and the SEC’s credit risk retention rule include a number of mandatory recordkeeping and disclosure requirements. The Board’s FR RR information collection accounts for the burden associated with the Board’s Regulation RR, as well as the burden associated with the SEC’s credit risk retention rule for securitizers that are, or are a subsidiary of, a bank holding company, savings and loan holding company, intermediate holding company, Edge or agreement corporation, foreign banking organization, or nonbank financial company supervised by the Board.

The latest form for Recordkeeping and Disclosure Requirements Associated with Regulation RR expires 2023-03-31 and can be found here.

Recordkeeping Sections 244.4 and 246.4 Standard Risk Retention Horizontal Interest

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