Risk Retention Repurchase Agreement

3. The promoter shall immediately inform the holders of the asset-backed securities issued in connection with the securitisation transaction or ask them which loans are included in such a securitisation transaction and which are to be repurchased by the promoter in accordance with paragraph (c)(2) of this Section, including the amount of such repurchase loan and the cause of such repurchase. Where there are several originators (or several originator lenders), EU rules generally require each to have the necessary risk loyalty in relation to all securitised exposures for which it is the originator (or the original lender). April 2011, the agencies of the Bundesbank (Office of the Comptroller of Currency, the Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System), the Securities and Exchange Commission (“SEC”), the Department of Housing and Urban Development (“HUD”) and the Federal Housing Finance Agency (“FHFA”) (together the “Agencies”) a joint opinion on the proposed regulation1 containing the proposed rules (the “Initial Proposal”) Implementation of the professions of faith. t risk retention requirements pursuant to Section 941 of the Dodd-Frank Act, codified under Section 15G (“Section 15G”) of the Securities Exchange Act of 1934 (Exchange Act). On 28 August 27, 2013, after receiving comments from more than 10,500 individuals, institutions and groups on the initial proposal, the agencies published a Communication on the Proposed Regulation (“NPR”) 2, with a revised set of proposed rules (the “Proposed Rules”) for the implementation of the credit risk requirements of Section 15G. Under U.S. rules, risk retention requirements for security obligations are generally defined separately from resafeitization obligations and the underlying security obligations. . .

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