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Results: 1-10 of 54

FDIC announces closing of sale of IndyMac
  • Alston & Bird LLP
  • USA
  • March 20 2009

On Thursday, the FDIC announced the completion of its previously announced sale of IndyMac Federal Bank FSB to OneWest Bank, FSB, a newly formed federal savings association organized by IMB HoldCo LLC


Mortgage delinquencies continue to rise as foreclosures level off
  • Alston & Bird LLP
  • USA
  • May 19 2010

Earlier today, the Mortgage Bankers Association released its latest national delinquency survey, which presents a mixed picture for the housing markets


SEC will not appeal proxy access decision; Rule 14a-8 amendments on private ordering to become effective
  • Alston & Bird LLP
  • USA
  • September 8 2011

Late Tuesday, September 6, 2011, the Securities and Exchange Commission (SEC) Chairman Mary L. Shapiro issued a statement that the SEC would not seek a rehearing of the decision by the United States Court of Appeals for the District of Columbia Circuit vacating the SEC’s recently adopted Rule 14a-11 and related amendments and would not seek Supreme Court review


Treasury, Federal Reserve, FDIC and OCC issue joint statement regarding Supervisory Capital Assessment Program, Capital Assistance Program and repayments of CPP funding
  • Alston & Bird LLP
  • USA
  • May 6 2009

This afternoon, the Treasury Department, Federal Reserve, FDIC and OCC issued a joint statement addressed a variety of questions arising under the pending Supervisory Capital Assessment Program (SCAP) and its interrelationship with Treasury's Capital Assistance Program (CAP


Fannie Mae reports $23.2 billion first quarter loss and need for additional $19 billion capital injection from Treasury
  • Alston & Bird LLP
  • USA
  • May 9 2009

Yesterday, Fannie Mae reported a $23.2 billion loss for the first quarter of 2009, the seventh straight quarterly loss, resulting in a net worth deficit of $18.9 billion (after taking into account a decrease in unrealized losses on available-for-sale securities


Repurchases of senior preferred stock held by Treasury: a critical decision for CPP participants
  • Alston & Bird LLP
  • USA
  • May 11 2009

The repurchase of senior preferred stock sold to the U.S. Treasury Department under the Capital Purchase Program (CPP) is coming to the forefront as a critical and possibly unavoidable decision for every banking organization that has participated in the CPP


Basel Committee approves higher capital requirements
  • Alston & Bird LLP
  • USA
  • September 12 2010

Today, the Basel Committee on Bank Supervision announced that the Group of Governors and Heads of Supervision (the Committee's oversight body) has approved "a substantial strengthening of existing capital requirements," including an increase in the minimum common equity requirement from 2 to 4.5 and a 2.5 common equity "capital conservation buffer," intended to enhance banks' ability to "withstand future periods off stress" and resulting in an aggregate 7 common equity requirement


SEC provides six-month reprieve from ratings disclosure requirements in ABS offerings
  • Alston & Bird LLP
  • USA
  • July 23 2010

Yesterday, the SEC's Division of Corporation Finance issued a no-action letter providing class relief for asset-backed securities (ABS) issuers from the Regulation AB Item 1103(a)(9) and 1120 requirements that a prospectus for an ABS offering disclose whether an issuance or sale of any class of offered ABS is conditioned on the assignment of a rating by one or more rating agencies and, if so, disclose the minimum credit rating that must be assigned and the identity of each rating agency and any arrangements to have such ratings monitored while the ABS are outstanding


Providence Bank assumes all of the deposits of Premier Bank
  • Alston & Bird LLP
  • USA
  • October 17 2010

On Friday, the Missouri Division of Finance closed Premier Bank, headquartered in Jefferson City, Missouri, and appointed the FDIC as receiver


Midland States Bank assumes all of the deposits of WestBridge Bank and trust company
  • Alston & Bird LLP
  • USA
  • October 17 2010

On Friday, the Missouri Division of Finance closed WestBridge Bank, headquartered in Chesterfield, Missouri, and appointed the FDIC as receiver