FDIC Issues Notice of Proposed Rulemaking Regarding Safe Harbor for Bank-Sponsored Securitizations.

Mondaq Business Briefing › Nbr. 2010, January 2010

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FDIC Issues Notice of Proposed Rulemaking Regarding Safe Harbor for Bank-Sponsored Securitizations.

Developments of Note

FDIC Issues Notice of Proposed Rulemaking Regarding Safe Harbor for Bank-Sponsored Securitizations

FDIC Proposes Contingent Resolution Plan Requirement for Largest Banks

Federal District Court Dismisses 401(k) Excessive Fee Litigation

Other Items of Note

FinCEN Posts Comments Regarding Proposed FBAR Amendments

SEC and DOL Issue Joint Investor Bulletin on Target Date Retirement Funds

DEVELOPMENTS OF NOTE

FDIC Issues Notice of Proposed Rulemaking Regarding Safe Harbor for Bank-Sponsored Securitizations

On May 11, 2010, the FDIC's board of directors issued a Notice of Proposed Rulemaking (the "NPR") regarding proposed revisions (the "Proposed Rule") to the safe harbor provided at 12 C.F.R. s.360.6 (the "Safe Harbor").

The original Safe Harbor, which was established by the FDIC in 2000 as a "clarification" of existing rules, offered federally insured depository institution ("IDI") sponsors of securitizations, as well as investors and rating agencies, assurance that the FDIC would not use its powers as a conservator or receiver for a ...

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