WASHINGTON — The Securities and Exchange Commission approved two sets of rules for asset-backed securities Thursday, including one that would apply to certain municipal securities in early 2015.
That set of rules, which the five-member commission approved unanimously, would require municipal issuers to disclose in quarterly filings the repurchase history on loans or assets securing all outstanding munis considered to be ABS “if the underlying transaction agreements include a covenant to repurchase or replace a pool asset,” according to an SEC fact sheet.
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