Bankowość · 09/09/1999

Repudiation and Asset-backed Securitizations and Loan Participations

The Federal Deposit Insurance Corporation (the FDIC) hereby gives notice that it has withdrawn its outstanding proposed Statement of Policy published on December 30, 1998, (46 FR 31018) that would have clarified the treatment of securitizations and loan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or loan participation to be accounted for as a sale under generally accepted accounting principles, is being withdrawn because the FDIC is proposing a rule that would have the same intended effect as the proposed Statement of Policy.