The Board of Governors of the Federal Reserve System announced today that an open meeting will be held at 3:30pm (EST) on Wednesday, October 22, 2014, to vote on adoption of a final credit risk retention rule under Section 941 of the Dodd-Frank Act.

Section 941 of the Dodd-Frank Act requires SEC, FDIC, Federal Reserve, OCC, FHFA, and HUD to jointly implement rules to require any securitized to retain an economic interest in a material portion of the credit risk for any asset that the securitized, through the issuance of an asset-backed security, transfers to a third party.

Proposed risk retention regulations were initially published on April 29, 2011, and were re-proposed in August 2014.

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