Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Office of Thrift Supervision
Securities and Exchange Commission
For Immediate Release FDIC: PR-66-2004
June 18, 2004
Agencies Extend Comment Period on Statement
Concerning Complex Structured Finance Activities
Five federal agencies today agreed to extend for 30 days the comment period on the proposed Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities published in the Federal Register on May 19, 2004.
In a letter submitted to the five agencies on June 10, eight trade associations representing financial institutions asked the agencies to provide the public with an additional 30-day period to review, analyze and submit comments on the proposed interagency statement.
The public comment period on the interagency statement will now end July 19, 2004. The scope and comment process for this interagency statement remain as stated in the original Federal Register notice of May 19, 2004 and comments should be received on or before July 19, 2004.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,116 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.
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