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Results: 1-10 of 15

Standardised approach for risk-weighted assets

  • Sidley Austin LLP
  • -
  • USA
  • -
  • August 3 2012

The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation recently released three proposed rules and one final rule which would substantially revise the federal banking agencies' current capital rules

IRS releases FATCA proposed regulations

  • Sidley Austin LLP
  • -
  • USA
  • -
  • February 9 2012

On February 8, 2012, the Treasury Department released proposed regulations under legislation that requires foreign financial institutions (including foreign banks, brokers, hedge funds and securitization vehicles such as CLOs) to report to the IRS information regarding U.S. account holders

New revenue procedure makes it easier for REMICs to release liens in the case of commercial mortgage loans secured by multiple real properties

  • Sidley Austin LLP
  • -
  • USA
  • -
  • October 8 2010

Revenue Procedure 2010-30 (“Rev. Proc. 2010-30”) makes it easier for a REMIC holding commercial mortgage loans secured by multiple properties to release the mortgage lien on one or more of those properties without jeopardizing the REMIC’s tax status or exposing it to prohibited transaction taxes

The proposed United States Covered Bond Act of 2010

  • Sidley Austin LLP
  • -
  • USA
  • -
  • March 26 2010

On March 18, 2010 Representative Scott Garrett (R-NJ) introduced into the United States House of Representatives the proposed United States Covered Bond Act of 2010

FDIC issues Advance Notice of possible safe harbor rule for securitizations and participations after March 31, 2010

  • Sidley Austin LLP
  • -
  • USA
  • -
  • December 18 2009

At its December 15, 2009 meeting, the Federal Deposit Insurance Corporation ("FDIC") issued an Advance Notice of Proposed Rulemaking Regarding Treatment by the FDIC as Conservator or Receiver of Financial Assets Transferred by an Insured Depository Institution in Connection With a Securitization or Participation After March 31, 2010 (the "ANPR"

Recent Basel II guidelines present securitization compliance challenges

  • Sidley Austin LLP
  • -
  • Global
  • -
  • December 1 2009

In July 2009, the Basel Committee on Banking Supervision (the "Basel Committee") issued new guidelines under Basel II that will reinforce the need for banks to review their transactions in order to determine appropriate risk weightings and capital calculations for certain securitization transactions

FDIC issues transitional safe harbor rule regarding assets transferred in connection with a securitization or participation

  • Sidley Austin LLP
  • -
  • USA
  • -
  • November 12 2009

On November 12, 2009, the Federal Deposit Insurance Corporation ("FDIC") issued an interim rule ("Interim Rule") amending its regulation (the "FDIC Safe Harbor Rule") defining safe harbor protection for treatment by the FDIC as conservator or receiver of financial assets transferred in connection with a securitization or participation

IRS will not treat public-private investment funds as taxable mortgage pools, allowing the funds to issue tranched debt without incurring a corporate income tax

  • Sidley Austin LLP
  • -
  • USA
  • -
  • August 28 2009

Rev. Proc. 2009-38 announces that the Internal Revenue Service (“IRS”) will not apply the taxable mortgage pool (“TMP”) rules to Public-Private Investment Funds (“Funds”

Federal banking regulatory agencies seek comment on proposed regulatory capital standards related to adoption of statements of Financial Accounting Standards nos. 166 and 167

  • Sidley Austin LLP
  • -
  • USA
  • -
  • August 27 2009

On August 26, 2009, the federal banking regulatory agencies (“Agencies”) announced that they are seeking comment on a proposed rule (“Proposed Rule”) related to the Financial Accounting Standards Board’s adoption of Statements of Financial Accounting Standards Nos. 166 and 167 (the “SFAS 166167 Modifications”

Term Asset-Backed Securities Loan Facility

  • Sidley Austin LLP
  • -
  • USA
  • -
  • August 18 2009

On August 17, 2009, the Federal Reserve Board and the Treasury Department announced their approval of the extension of the Term Asset-Backed Securities Loan Facility ("TALF") launched in March