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TagsPress Release
FDIC Board Approves An Extension Regarding the Safe Harbor Protection for Securitizations
| FOR IMMEDIATE RELEASE
March 11, 2010 |
Media Contact:
David Barr (202) 898-6992 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it |
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved by notational vote an extension through September 30, 2010 of the Safe Harbor Protection for Treatment by the FDIC as Conservator or Receiver of Financial Assets Transferred by an Insured Depository Institution in Connection With a Securitization or Participation. Under this safe harbor, all securitizations or participations in process through September 30, 2010 are permanently grandfathered under the existing terms of 12 C.F.R. Part 360.6.
When a safe harbor was initially adopted in 2000 for securitizations and participations, the FDIC provided important protections for securitizations and participations
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FDIC Acquisitions Policy Manual