Under proposed Rule 17g-7, each time
an NRSRO published a credit rating for a structured finance product
it also would be required to publish a report describing how the
credit ratings procedures and methodologies and credit risk
characteristics for structured finance products differ from those
of other types of rated instruments such as corporate and municipal
debt securities. As an alternative to publishing the report,
proposed Rule 17g-7 would allow an NRSRO to use ratings symbols for
structured finance products that differentiated them from the
credit ratings for other types of debt securities.
US Code:
15
USC 78o-7 Name of Law: Credit Rating Agency Reform Act of
2006
Proposed amendments to rule
would create new collection of information.
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Sheila Swartz 202
551-5545
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.