Yesterday, senior FDIC officials held a roundtable discussion with a number of pension funds, investment managers, and other interested groups regarding the FDIC Statement of Policy on the Acquisition of Failed Insured Institutions, which was published last September. The FDIC has suggested that revisions to the Statement of Policy are likely to be forthcoming, but there is no timetable for nor any indication of the substance of any revisions. Yesterday’s roundtable discussion was part of the six-month review of the Statement of Policy mandated by the FDIC. The Statement of Policy explains the standards that will have to be met in order for investors to bid to acquire or invest in failed banks or thrifts.
In attendance were representatives of major law firms, investment managers, pension funds, banks, and interest groups including the Center for Responsible Lending, the American Bankers Association, and the Independent Community Bankers of America.