Statement of Policy for Section 19 of the Federal Deposit Insurance Act

Zusammenfassung

On October 13, 2006, Section 19 of the Federal Deposit Insurance Act was modified to address institution-affiliated parties participating in the affairs of Bank Holding Companies and Savings and Loan Holding Companies. The FDIC is introducing a footnote to its Statement of Policy for Section 19 of the Federal Deposit Insurance Act ("SOP") that will provide the public with a better understanding of the FDIC's scope given the Federal Reserve System's and Office of Thrift Supervision's new authority under Section 19. The FDIC is not seeking comment on the footnote clarifying the SOP, and the change is effective upon publication in the Federal Register.