FDIC Issues Proposal to Revise Securitization Safe Harbor Rule
Updated: Jul 17, 2019
news from bankingjournal.aba.com
The FDIC today said it would issue a notice of proposed rulemaking to amend its securitization safe harbor rule, which addresses circumstances that may arise if the FDIC is appointed receiver or conservator for an insured depository institution that has sponsored one or more securitization transactions.
The proposal would remove from the rule a disclosure requirement that documents governing securitizations transactions be compliant with the Securities and Exchange Commission’s Regulation AB in order to be afforded safe harbor treatment by the FDIC.