What's in a Name? The Volcker Rule's Impact on ABS Issuers that are Covered Funds
17 November 2011
The "Volcker Rule" enacted into law by Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act includes a provision intended to preserve the ability of banking entities to continue conducting loan securitizations. The alert discusses the definition of "covered funds" and the loan securitization exemption from the prohibition on ownership and sponsorship of covered funds by banking entities.