H.R.6482: To direct the Securities and Exchange Commission to establish both a process by which asset-backed instruments can be deemed eligible for NRSRO ratings and an initial list of such eligible asset-backed instruments.

To direct the Securities and Exchange Commission to establish both a process by which asset-backed instruments can be deemed eligible for NRSRO ratings and an initial list of such eligible asset-backed instruments. 7/14/2008--Introduced. Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to revise regulations relating to "asset-backed securities" to define an "NRSRO asset-backed securities" subset, which shall: (1) be the only asset-backed securities for which a credit rating agency may register and issue ratings as a nationally recognized statistical rating organization (NRSRO); and (2) be restricted to securities representing interests in pools of assets whose performance can be evaluated based on a documented history of predictable performance of similar assets, and which are contained in structures which also have a documented history of predictable performance. Requires the revision of such regulations [...]

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