The Federal Deposit Insurance Corp.'s (FDIC) board of directors yesterday approved a Notice of Proposed Rulemaking (NPR) clarifying the safe harbor protection in a conservatorship or receivership for financial assets transferred by an insured depository institution (IDI) in a securitization or participation.
The FDIC received comments on the NPR from a various interested parties, according to a release the agency sent out yesterday. In response, it has proposed some changes to the standards in the NPR, although it said that it has retained a clear focus on improved transparency and a better alignment of incentives for strong underwriting in the securitization process.
The link below lists FDIC's proposed requirements for securitizations to qualify for safe harbor.
