We use cookies to customise content for your subscription and for analytics. If you continue to browse Lexology, we will assume that you are happy to receive all our cookies. For further information please read our Cookie Policy.
USA - November 13 2009
On November 12, in response to concerns about the effect of the impending implementation of FAS 166/167, the Federal Deposit Insurance Corporation (FDIC) voted unanimously to provide a transitional rule that will allow all securitizations and participations that have been or will be issued in compliance with the 2000 FDIC safe harbor to continue to achieve the legal isolation safe harbor from the FDIC’s reach in the case of an insured depositary institution’s conservatorship or receivership (including if they were issued as off-balance sheet entities under accounting rules prior to implementation of FAS 166/167).
USA - November 13 2009
On November 13, the federal bank and thrift regulatory agencies issued a final rule providing that mortgage loans modified under the U.S. Treasury Department's Home Affordable Mortgage Program (HAMP) will generally retain the risk weight appropriate to the mortgage loan prior to modification.
USA - October 23 2009
On October 16, Fitch Ratings announced that as of October 14, its moratorium on rating certain U.S. residential mortgage-backed securities (RMBS) re-securitizations was expanded to include all Alternative A-Paper (Alt-A) loan transactions.
USA - October 16 2009
On October 14, the House Financial Services Committee (HFSC) held a session to mark up the Over-the-Counter Derivatives Markets Act of 2009, the Consumer Financial Protection Agency Act of 2009, H.R. 3763 (which amends the Fair Credit Reporting Act to provide certain businesses with an exclusion from “red flag” guidelines), and H.R. 3639 (to expedite the Credit Card Accountability, Responsibility and Disclosure Act Reform for Consumer Act of 2009).
