FDIC Proposal Links Market Reform to the Securitization Safe Harbor
18 May 2010
Mayer Brown Legal Update
On May 11, 2010, the Board of the Federal Deposit Insurance Corporation (FDIC) released a notice of proposed rulemaking (NPR) concerning the FDIC’s rule (the Rule) relating to the treatment of securitizations (and participations) in receivership or conservatorship (12 CFR 360.6). This is the latest step in the FDIC’s reaction to changes in US accounting standards that made it difficult for banks4 to use the Rule. Comments on the NPR must be received by July 1, 2010.