FDIC Delays The PPIP Legacy Loan Program To Focus On Public-Private Programs To Sell Assets From Failed Banks.
Mondaq Business Briefing › Nbr. 2009, January 2009
Linked as:
Extract
FDIC Delays The PPIP Legacy Loan Program To Focus On Public-Private Programs To Sell Assets From Failed Banks.
On June 3, the Federal Deposit Insurance Corporation (the "FDIC") announced that a pilot sale of assets under the Legacy Loans Program component of the Public-Private Investment Program ("PPIP"), initially scheduled for June, will be postponed indefinitely. The FDIC indicated it will continue to work to develop the Legacy Loans Program as banks take "additional time to assess the magnitude and timing of troubled asset sales." It appears that the FDIC's focus will turn to developing and applying the funding mechanisms of the Legacy Loans Program for sales of failed bank assets held by the FDIC, as receiver.
...See the full content of this document
Sponsored links
