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2010-09-23
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Treatment by the Federal Deposit Insurance Corporation as Conservator or Receiver of Financial Assets Transferred by an Insured Depository Institution in Connection With a Securitization or Participation
Rules and Regulations
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D09002ee1bdfa41af
United States
Federal Deposit Insurance Corporation
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United States Government Agency or Subagency
The Federal Deposit Insurance Corporation (the FDIC) has adopted a rule regarding the treatment by the FDIC, as receiver or conservator of an insured depository institution, of financial assets transferred by the institution in connection with a securitization or in the form of a participation. The rule resolves issues raised by Financial Accounting Standards Board (FASB) Statement No. 125, Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities (SFAS 125). The rule provides that with respect to financial assets transferred by an institution in connection with a securitization or in the form of a participation, and subject to certain conditions described in the rule, the FDIC will not seek to recover or reclaim such financial assets in exercising its statutory authority to repudiate contracts pursuant to section 11(e) of the Federal Deposit Insurance Act. The rule also provides that the FDIC will not seek to enforce the ``contemporaneous'' requirement of sections 11(d)(9), 11(n)(4)(I), and 13(e). The final rule applies to securitizations and participations that are engaged in while the rule is in effect, even if the rule is later repealed or amended.
65 FR 49189
https://www.govinfo.gov/app/details/FR-2000-08-11/00-20193
00-20193
fr11au00-1
RIN 3064-AC28
6714-01-P
https://www.govinfo.gov/app/details/FR-2000-08-11/00-20193
https://www.govinfo.gov/content/pkg/FR-2000-08-11/html/00-20193.htm
https://www.govinfo.gov/content/pkg/FR-2000-08-11/pdf/00-20193.pdf
Banks
Banking
Savings Associations
4 p.
49189
49192
65 FR 49189
Code of Federal Regulations
Title 12 Part 360
12 CFR Part 360
Regulation Identification Number 3064-AC28
RIN 3064-AC28
Treatment by the Federal Deposit Insurance Corporation as Conservator or Receiver of Financial Assets Transferred by an Insured Depository Institution in Connection With a Securitization or Participation; Federal Register Vol. 65, Issue
RULE
00-20193
FEDERAL DEPOSIT INSURANCE CORPORATION
6714-01-P
00-20193
Final rule.
The Federal Deposit Insurance Corporation (the FDIC) has adopted a rule regarding the treatment by the FDIC, as receiver or conservator of an insured depository institution, of financial assets transferred by the institution in connection with a securitization or in the form of a participation. The rule resolves issues raised by Financial Accounting Standards Board (FASB) Statement No. 125, Accounting for Transfers and Servicing of Financial Assets and Extinguishment of Liabilities (SFAS 125). The rule provides that with respect to financial assets transferred by an institution in connection with a securitization or in the form of a participation, and subject to certain conditions described in the rule, the FDIC will not seek to recover or reclaim such financial assets in exercising its statutory authority to repudiate contracts pursuant to section 11(e) of the Federal Deposit Insurance Act. The rule also provides that the FDIC will not seek to enforce the ``contemporaneous'' requirement of sections 11(d)(9), 11(n)(4)(I), and 13(e). The final rule applies to securitizations and participations that are engaged in while the rule is in effect, even if the rule is later repealed or amended.
September 11, 2000.
Michael Krimminger, Division of Resolutions and Receiverships, (202) 898-8950; Robert Storch, Division of Supervision, (202) 898-8906; or Thomas Bolt, Legal Division, (202) 736-0168, Federal Deposit Insurance Corporation, 550 17th Street, NW., Washington, DC 20429.
Banks
Banking
Savings Associations
Resolution and receivership rules:
Financial assets transferred by insured depository institution in connection with securitization or participation,
Federal Register
Vol. 65, no. 156
Office of the Federal Register, National Archives and Records Administration
2000-08-11
continuing
daily
deposited
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290 p.
Table of Contents:
AE 2.7:
GS 4.107:
AE 2.106:
KF70.A2
https://www.govinfo.gov/app/details/FR-2000-08-11
P0b002ee1809f5b35
0097-6326
0042-1219
0364-1406
769-004-00000-9
000582072
f:fr11au00
https://www.govinfo.gov/app/details/FR-2000-08-11
https://www.govinfo.gov/content/pkg/FR-2000-08-11/pdf/FR-2000-08-11.pdf
https://www.govinfo.gov/content/pkg/FR-2000-08-11/xml/FR-2000-08-11.xml
fdlp
49189
49467
DGPO
2010-09-23
2023-05-05
FR-2000-08-11
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FR
FR-2000-08-11
65
156