Finance & markets · 16/10/2012

FDIC Final Rule Implements Dodd-Frank Act Provisions for Enforcing Subsidiary and Affiliate Contracts

The FDIC is issuing a final rule that allows it, as receiver for a covered financial company, to enforce contracts with subsidiaries or affiliates despite clauses that would terminate or accelerate payments in the event of the company's insolvency or receivership, as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.