federal_register: 2010-24595
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
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| document_number | title | type | abstract | publication_date | pub_year | pub_month | html_url | pdf_url | agency_names | agency_ids | excerpts | regulation_id_numbers |
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| 2010-24595 | 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 After September 30, 2010 | Rule | The Federal Deposit Insurance Corporation ("FDIC") has adopted an amended regulation 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 a participation (the "Rule"). The Rule continues the safe harbor for financial assets transferred in connection with securitizations and participations in which the financial assets were transferred in compliance with the existing regulation. The Rule also imposes further conditions for a safe harbor for securitizations or participations issued after a transition period. On March 11, 2010, the FDIC established a transition period through September 30, 2010. In order to provide for a transition to the new conditions for the safe harbor, the Rule provides for an extended transition period through December 31, 2010 for securitizations and participations. The Rule defines the conditions for safe harbor protection for securitizations and participations for which transfers of financial assets are made after the transition period; and clarifies the application of the safe harbor to transactions that comply with the new accounting standards for off balance sheet treatment as well as those that do not comply with those accounting standards. The conditions contained in the Rule will serve to protect the Deposit Insurance Fund ("DIF") and the FDIC's interests as deposit insurer and receiver by aligning the conditions for the safe harbor with better and more sustainable securitization practices by insured depository institutions ("IDIs"). | 2010-09-30 | 2010 | 9 | https://www.federalregister.gov/documents/2010/09/30/2010-24595/treatment-by-the-federal-deposit-insurance-corporation-as-conservator-or-receiver-of-financial | https://www.govinfo.gov/content/pkg/FR-2010-09-30/pdf/2010-24595.pdf | Federal Deposit Insurance Corporation | 164 | The Federal Deposit Insurance Corporation ("FDIC") has adopted an amended regulation regarding the treatment by the FDIC, as receiver or conservator of an insured depository institution, of financial assets transferred by the institution in connection... |