(a) Securitization transactions. The federal agencies with rulewriting authority under section 15G(b)
of the Exchange Act (15 U.S.C. 78o-11(b)) with respect to the type
of assets involved may jointly provide a total or partial exemption
of any securitization transaction as such agencies determine may be
appropriate in the public interest and for the protection of investors.
(b) Exceptions, exemptions, and adjustments. The Federal banking agencies and the Commission, in consultation
with the Federal Housing Finance Agency and the Department of Housing
and Urban Development, may jointly adopt or issue exemptions, exceptions
or adjustments to the requirements of this part, including exemptions,
exceptions or adjustments for classes of institutions or assets in
accordance with section 15G(e) of the Exchange Act (15 U.S.C. 78o-11(e)).
