View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Advanced Search

What's New · What's Next · Site Map · A-Z Index · Careers · RSS · All Videos · Current FAQs · Contact Us

About
the Fed

News
& Events

Monetary
Policy

Testimony and Speeches
Press Releases
Regulatory Reform

Banking
Information
& Regulation

Payment
Systems

Economic
Research
& Data

Consumer
Information

Community
Development

Reporting
Forms

Publications

Home > News & Events > 2014 Banking and Consumer Regulatory Policy > Press Release--Six Federal Agencies Jointly Approve Final Risk Retention
Rule--October 22, 2014

Opening Statement by Chair Janet L. Yellen

Print

Conferences
Other Public Communication

Good afternoon. I'd like to welcome our guests to the Federal Reserve today as we, along with five other federal agencies, take
another important step in implementing the Dodd-Frank Act and in enhancing stability in the securitization markets.
The final rule before the Board would require sponsors of securitizations to retain an economic interest in the assets that they
securitize. Often called "skin in the game," risk retention requirements better align the interests of sponsors and investors by
providing an economic incentive for sponsors to monitor the quality of securitized assets.
The rule we are considering today was developed on an interagency basis with the SEC, OCC, FDIC, HUD and FHFA. I look
forward to today's discussion. Let me now turn over the meeting to Scott Alvarez, General Counsel.

Last update: October 22, 2014

Home | News & Events
Accessibility

Contact Us

Disclaimer

Website Policies

FOIA

PDF Reader