1. Short title This Act may be cited as the Expanding Proven Financing for American Employers Act . 2. Risk retention requirement for qualified collateralized loan obligations Section 15G(e) of the Securities Exchange Act of 1934 ( 15 U.S.C. 780–11(e) ) is amended by inserting after paragraph (6) the following new paragraphs: (7) Requirements for qualified collateralized loan obligations (A) Risk retention requirement Notwithstanding any other provision of this section, as of the effective date set forth in subsection (i)(2), the risk retention requirement for qualified collateralized loan obligations may be met by the purchase and, during the applicable duration of risk retention specified by the rules of the Federal banking agencies under subsection (c)(1)(C)(ii), holding (without hedging or otherwise transferring the credit risk), of securities of the collateralized loan obligation with the value of not less than 5 percent of the equity of the collateralized loan obligation by the manager of the qualified collateralized loan obligation or one or more of the majority-owned affiliates of the manager or its knowledgeable employees and other employees; provided, that of that amount, 70 percent shall be held in the form of equity securities and the remainder shall be held ratably in securities of all other tranches of the securitization. (B) Qualified collateralized loan obligations For purposes of this paragraph, a qualified collateralized loan obligation is a collateralized loan obligation that meets all of the following requirements: (i) Asset quality protections The collateralized loan obligation shall— (I) have at least 100 percent of its assets comprised of senior secured loans and cash equivalents; (II) have 100 percent of its loan assets issued by companies