FDIC Rule For Securitizations Gets Mixed Reaction

Law360, New York (October 29, 2010, 2:58 PM EDT) -- On Sept. 27, 2010,[1] the Federal Deposit Insurance Corp. board of directors approved a final rule that amends the rules governing the role the FDIC must play as a receiver or conservator of an insured depository institution, of financial assets transferred by such institutions in connection with a securitization or participation. The final rule also extends the current safe harbor protection in place for certain securitized assets through Dec. 31, 2010.[2]

All securitizations or participations in process before Dec. 31, 2010, and that satisfy certain conditions,...
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