Section 43.1 - Authority, purpose, scope, and reservation of authority(a)Authority. This part is issued under the authority of 12 U.S.C. 1 et seq., 93a, 161, 1464, 1818, 5412(b)(2)(B), and 15 U.S.C. 78o-11 .(b)Purpose.(1) This part requires securitizers to retain an economic interest in a portion of the credit risk for any asset that the securitizer, through the issuance of an asset-backed security, transfers, sells, or conveys to a third party. This part specifies the permissible types, forms, and amounts of credit risk retention, and it establishes certain exemptions for securitizations collateralized by assets that meet specified underwriting standards.(2) Nothing in this part shall be read to limit the authority of the OCC to take supervisory or enforcement action, including action to address unsafe or unsound practices or conditions, or violations of law.(c)Scope. This part applies to any securitizer that is a national bank, a Federal savings association, a Federal branch or agency of a foreign bank, or a subsidiary thereof.(d)Compliance dates. Compliance with this part is required: (1) With respect to any securitization transaction collateralized by residential mortgages, on and after December 24, 2015; and(2) With respect to any other securitization transaction, on and after December 24, 2016. 79 FR 77764 , Dec. 24, 2014