Last week the American Securitization Forum (ASF) expressed support for the revised guidance to complex structured finance transactions. The Office of the Comptroller of the Currency, the Office of Thrift Supervision, the board of governors of the Federal Reserve System, the Federal Deposit Insurance Corp., and the Securities and Exchange Commission issued the revised guidance jointly.

In particular, the ASF letter said the revised guidance was a major improvement over original guidelines issued in May 2004, because it "strikes an appropriate balance between promoting sound and effective management controls while preserving sufficient flexibility for the operation and growth of the structured finance market."

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