On April 24, 2015, the SEC's Division of Corporation Finance withdrew two compliance and disclosure interpretations (C&DIs) regarding application of the Trust Indenture Act to asset-backed securities certificates. The withdrawn C&DIs (202.01 and 203.01) set out a situation in which certificates representing a beneficial ownership interest in a trust are offered to the public under a registration statement under the Securities Act, the assets of the trust include a pool of mortgage loans with multiple obligors administered under a pooling and servicing agreement, and partial payment of the certificates is guaranteed by a third party. The now archived C&DIs clarified that in this situation:

To learn more about the US federal laws governing indentures for debt securities issued by domestic and foreign companies, see Practice Note, Indenture and Indenture Trustee: Governing Laws.