Even as the guidelines from the Bank of International Settlements (BIS) look as if they won't be finalized for at least another few years, the U.S. regulators are pushing ahead with the final ruling on the treatment of residuals on all securitizations, as well as the final U.S. version of the risk-weighting/recourse provisions for rated securitized assets, Washington sources told ASR.

In a statement last month to the Committee On Banking, Housing and Urban Affairs and the U.S. Senate, concerning the failure of Superior Bank, John Reich, director of the Federal Deposit Insurance Corp., said that the regulators will complete their final guidelines on residuals sometime in October. These will be published before Dec. 1 into the Federal Register, a source said.

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