Bankowość · 11/12/1996

Rescission of Statement of Policy; Retail Repurchase Agreements

As part of the FDIC's systematic review of its regulations and written policies under section 303(a) of the Riegle Community Development and Regulatory Improvement Act of 1994 (CDRI), the FDIC is rescinding its policy statement concerning retail repurchase agreements (Statement). The Statement alerts insured nonmember banks to legal and safety and soundness issues involved in the issuance of retail repurchase agreements (retail repos). The FDIC is rescinding the Statement because it is now outmoded. The rescission does not reflect any substantive change in the FDIC's supervisory attitude toward the need for fundamental disclosure of investor risks, as reflected in the Interagency Statement on Retail Sales of Nondeposit Investment Products.