November 12, 2009, the Board of the FDIC approved an interim rule that provides some crucial transitional relief relating to recent changes in US accounting standards for securitizations. One of the key impacts of the accounting changes is that banks, among other entities, will no longer be able to achieve sale treatment in securitizations of credit card and other receivables using many traditional structures. Among other issues, this change creates uncertainty about the continuing availability of the FDIC's rule (the "Safe Harbor") relating to the treatment of securitizations in receivership or conservatorship (12 CF 360.6).
Please join Mayer Brown attorneys Jason Kravitt, Robert Hugi and Stuart Litwin for our next 30-minute teleconference where they will provide details on the FDIC's interim rule and the impact of recent changes to accounting standards for securitizations.
Thursday, November 19, 2009
11:00 a.m. - 11:30 a.m. EST
10:00 a.m. - 10:30 a.m. CST
8:00 a.m. - 8:30 a.m. PST
4:00 p.m. - 4:30 p.m. GMT
For additional information, please contact Ellen Hotter at firstname.lastname@example.org or +1 212 506 2331.
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