The Securities and Exchange Commission joined the chorus of policymakers calling for institutions to retain "skin in the game" in securitizations — raising the odds such a requirement will become reality.

Senate Banking Committee Chairman Chris Dodd, D.-Conn., has been pushing a similar plan to force lenders to retain a minimum 5% of the credit risk in assets they sell. Unlike that provision, which is included in the Senate and House regulatory reform bills, the SEC's proposed rule, unveiled Wednesday, does not need to pass Congress.

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