FDIC final rule for “safe harbor” protection for securitizations *

USA - October 18 2010
On September 27, the Board of Directors of the FDIC approved a Final Rule (the "Final Rule") that governs the rights of the FDIC, as conservator or receiver of a failed insured depository institution (a "Bank"), over financial assets previously transferred by such Bank in connection with a securitization or participation transaction.

Co-authors: Thomas C. Mitchell , Mark M. Racic , Howard S. Altarescu, Robert B. Moyle.

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Rating agency updates *

USA - August 27 2010
On August 24, Fitch released its revised criteria for rating Trust Preferred CDOs.

Co-authors: Amie B. Davis, Mark M. Racic , Rhanda K. Moussa , Howard S. Altarescu, Njoki E. Gatimu .

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Fed neighborhood stabilization summit *

USA - August 27 2010
On August 26, the Fed announced plans to sponsor a national summit on September 1 and 2 to discuss methods and resources for encouraging neighborhood stabilization in the aftermath of the U.S. home mortgage foreclosure crisis.

Co-authors: Amie B. Davis, Mark M. Racic , Rhanda K. Moussa , Howard S. Altarescu, Njoki E. Gatimu .

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ISDA streamlines credit derivative novation process *

USA - August 27 2010
On August 25, ISDA published 'Additional Provisions for Consent to, Confirmation of, Transfer by Novation of OTC Derivative Transactions'.

Co-authors: Amie B. Davis, Mark M. Racic , Rhanda K. Moussa , Howard S. Altarescu, Njoki E. Gatimu .

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ISDA publishes HIRE Act Protocol *

USA - August 27 2010
On August 23, ISDA published the 2010 HIRE Act Protocol, which addresses the changes in law effected by the HIRE Act, enacted on March 18.

Co-authors: Mark M. Racic , Rhanda K. Moussa , Howard S. Altarescu, Njoki E. Gatimu , Roger L. Davis.

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