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FDIC Notice of Proposed Rulemaking for safe harbor protection for securitizations

• Orrick Herrington & Sutcliffe LLP
• -
• USA
• -
• May 12 2010

On May 11, the Board of Directors of the FDIC approved a Notice of Proposed Rulemaking (the "NPR") proposing a rule which would govern the treatment by the FDIC, as conservator or receiver of a failed insured depository institution (a "Bank"), of financial assets previously transferred by such Bank in a securitization or participation transaction