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EU Risk Retention Requirements Revised

January 15, 2014

Summary: On December 17, 2013 the European Banking Authority issued its final draft of new rules relating to the retention by sponsors, originators and original lenders of credit risk (net economic interest) in securitization transactions. This issuance follows a period of consultation based on a draft that was released in May 2013. Although the new rules, which take the form of regulatory (RTS) and implementing technical standards (ITS), must still be approved (or not be objected to) by the European Commission, the European Parliament and the Council of the European Union before they can be published in the Official Journal (and thereupon become final 20 days after such publication), it may be useful to begin studying their structure and their possible implications.

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