Summary: | The FDIC has issued the attached final interim policy statement on the treatment of "covered bonds" in the event that the issuing insured depository institution is placed into FDIC receivership or conservatorship. The policy statement provides regulatory relief by giving expedited access to covered bond collateral if the issuing institution fails or is placed in conservatorship and meets certain criteria. The FDIC guidance is intended to reduce market uncertainty and allow for evaluation of the benefits and questions about covered bonds as the market develops in the United States. Comments on the policy statement are due by June 23, 2008. |
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To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html . Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (1-877-275-3342 or 703-562-2200).
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