U.S. regulators finalized a securities risk retention rule on Tuesday designed to set the stage for the future of the secondary mortgage market.

The Federal Deposit Insurance Corp. approved a final rule at its morning meeting that will require lenders to retain at least a 5% stake in loans they securitize unless they meet the definition of "qualified residential mortgages." The final rule defines QRM to match with the Consumer Financial Protection Bureau's separate "qualified mortgage" rule, which governs underwriting standards. 

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