The Securities and Exchange Commission (SEC) has agreed to a six-month delay for European ABS in the implementation of rating agency requirements under Rule 17g-5 (a)(3).

The rule required disclosure of non-public information to all registered rating agencies (NRSROs) and would have obliged European borrowers to set up a website to publish this information. It requires rating agencies to make data available to other agencies that are not mandated to rate the transaction, and is theoretically designed to increase the number of views on the creditworthiness of a given transaction.

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