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[April 26, 1999 (Volume 64, Number 77)] [Unified Agenda] From the Federal Register Online via GPO Access [frwais.access.gpo.gov] [DOCID:ua26ap99_053-6] [Page 22316] Part LV Federal Deposit Insurance Corporation _______________________________________________________________________ FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) Final Rule Stage _______________________________________________________________________ 4230. CAPITAL MAINTENANCE--RECOURSE ARRANGEMENTS AND DIRECT CREDIT SUBSTITUTES Priority: Substantive, Nonsignificant Legal Authority: 12 USC 1815; 12 USC 1816; 12 USC 1818; 12 USC 1819; 12 USC 1828; 12 USC 1831; 12 USC 3907; 12 USC 3909 CFR Citation: 12 CFR 325 Legal Deadline: None Abstract: The FDIC, the FRS, the OCC, and the OTS (Agencies) are revising their risk-based capital standards to address the regulatory capital treatment of recourse arrangements and direct credit substitutes that expose banks, bank holding companies, and thrifts to credit risk. One portion of the NPRM addressing the risk-based capital treatment of low-level recourse transactions is required to be published as a separate final rule by CDRI. In addition, the Agencies published, in an ANPRM, a preliminary proposal to use credit ratings to match the risk-based capital assessment more closely to an institution's relative risk of loss in certain asset securitizations. The Agencies are also seeking comment on the need for a similar system for unrated asset securitizations and on how such a system would be designed. The Agencies intend that any final rules adopted in connection with these regulatory actions that result in increased risk-based capital requirements would apply only to transactions that are consummated after the effective dates of such final rules. A second NPRM combining the issues raised in the ANPRM on credit ratings, and the NPRM on recourse and direct credit substitutes was published in November 1997 (62 FR 59944). Timetable: ________________________________________________________________________ Action Date FR Cite ________________________________________________________________________ Final Action 05/00/99 Credit Ratings ANPRM 05/25/94 (59 FR 27116) Recourse/Direct Credit Substitutes NPRM 05/25/94 (59 FR 27116) Synthesis of Credit Ratings/Recourse/Direct Credit Substitutes NPRM 11/05/97 (62 FR 59944) Regulatory Flexibility Analysis Required: No Government Levels Affected: None Agency Contact: Robert F. Storch, Chief, Accounting Section, Division of Supervision, Federal Deposit Insurance Corporation, Washington, DC 20429 Phone: 202 898-8906 RIN: 3064-AB31 _______________________________________________________________________ |
Last Updated 4/26/1999 | regs@fdic.gov |