Securitization and the Asset-Backed Securities Market through the 2007–2008 Crisis, 1980–2010

1. Early 1980s securitization expands beyond agencies

   Jan 1, 1981Labels: Mortgage pass-throughs, Wall Street

   • SEC MBS Background
   • MBS Overview

2. SMMEA boosts private-label MBS eligibility

   Oct 3, 1984Labels: SMMEA, Private-label MBS

   • MBS History
   • SMMEA Summary

3. REMIC tax rules standardize mortgage securitization

   Oct 22, 1986Labels: REMIC, Tax Reform

   • CRS Report
   • REMIC Explainer

4. Gramm–Leach–Bliley enables broader financial conglomerates

   Nov 12, 1999Labels: Gramm Leach, Financial conglomerates

   • Fed History
   • OCC Paper

5. OTC derivatives gain legal certainty under CFMA

   Dec 21, 2000Labels: CFMA, Credit default

   • Congress Report
   • CFMA Overview

6. SEC adopts Regulation AB for ABS disclosure

   Dec 22, 2004Labels: Regulation AB, SEC

   • SEC Release
   • SEC Summary

7. U.S. home prices peak in mid-2006

   Jul 1, 2006Labels: S&P Case-Shiller, U S

   • Case Shiller
   • Fed Report

8. Bear Stearns rescue signals structured-credit stress

   Mar 16, 2008Labels: Bear Stearns, Maiden Lane

   • Fed Maiden Lane
   • Fed Risk Report

9. Lehman bankruptcy deepens securitization market freeze

   Sep 15, 2008Labels: Lehman Brothers, Bankruptcy

   • History com
   • Brookings

10. Federal Reserve backs AIG amid CDS-linked risks

    Sep 16, 2008Labels: AIG, Federal Reserve

    • Fed MPR 2009
    • Fed Risk Report

11. Fed creates TALF to restart consumer ABS issuance

    Nov 25, 2008Labels: TALF, Federal Reserve

    • Fed TALF PR
    • Treasury TALF

12. FASB tightens securitization accounting and consolidation

    Jun 1, 2009Labels: FASB, SFAS 166

    • SEC Filing Excerpt
    • Fed Risk Report

13. Dodd–Frank mandates securitization risk-retention framework

    Jul 21, 2010Labels: Dodd Frank, Risk retention

    • Fed Risk Retention
    • SEC ABS Framework