Skip Header

Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Home > Regulation & Examinations > Laws & Regulations > FDIC Federal Register Citations

FDIC Federal Register Citations

[Federal Register: September 9, 1999 (Volume 64, Number 174)]
[Page 49015]
From the Federal Register Online via GPO Access []



Repudiation and Asset-backed Securitizations and Loan

AGENCY: Federal Deposit Insurance Corporation.

ACTION: Withdrawal of proposed Statement of Policy


SUMMARY: The Federal Deposit Insurance Corporation (the FDIC) hereby
gives notice that it has withdrawn its outstanding proposed Statement
of Policy published on December 30, 1998, (46 FR 31018) that would have
clarified the treatment of securitizations and loan participations
after appointment by the FDIC as conservator or receiver of an insured
depository institution. The proposed Statement of Policy, which was
intended to provide sufficient assurances to permit the transfer of
financial assets by insured depository institutions in connection with
a securitization or loan participation to be accounted for as a sale
under generally accepted accounting principles, is being withdrawn
because the FDIC is proposing a rule that would have the same intended
effect as the proposed Statement of Policy.

EFFECTIVE DATE: September 9, 1999.

FOR FURTHER INFORMATION CONTACT: Thomas Bolt, Counsel, Legal Division,
Federal Deposit Insurance Corporation, 550 17th Street NW., Washington,
DC 20429, (202) 736-0168.
By Order of the Board of Directors.

Dated at Washington, D.C., this 31st day of August, 1999.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 99-23383 Filed 9-8-99; 8:45 am]

Last Updated 09/09/1999

Skip Footer back to content