Restrictions on the Purchase of Assets From the Federal Deposit Insurance Corporation

Resumo

The Federal Deposit Insurance Corporation (FDIC) is proposing to issue a rule implementing the requirements of the Resolution Trust Corporation Completion Act of 1993 that assets held by the FDIC in the course of liquidating any federally insured institution not be sold to persons who, in ways specified in the Act, contributed to the demise of an insured institution. The proposed rule establishes a self- certification process that is a prerequisite to the purchase of assets from the FDIC and provides definitions that effectuate the intent of Congress regarding the scope of the statutory prohibitions.