A principles-based set of disclosure items tailored specifically to asset-backed securities ABS

• A subpart of Regulation S-K
• The "1100 series"

Regulation AB items key to the disclosure requirements in the SEC's ABS registration statements and forms

• Similar to the integrated disclosure system applicable to other issuers

SEC commentary

• Final release 2005
• Proposal release 2004

Key issues

• Definition of asset-backed security defines
  the scope of Regulation AB
• Requires disclosure of static pool data
• Increased disclosures about transaction participants,
  including servicers, enhancement providers and derivative providers

SEC speech 2004

Asset-Backed Securities