At a regulatory meeting last week, the Federal Deposit Insurance Corp. (FDIC) distributed its adaptation of the final recourse/residual ruling for U.S. banks.

Washington sources said this document is nearly a final draft, and, pending the other federal agencies' adaptations of the guidelines (given their various jurisdictions and enforcement powers), the rules will be written into the Federal Register Dec. 1, and implemented on Jan. 1, 2002.

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