Details:

Publisher's site:
https://www.fdic.gov
Corporate Authors:
Federal Deposit Insurance Corporation (FDIC)
Description:
The FDIC has issued a final rule that would prohibit state and federal savings associations from acquiring or holding a corporate debt security when the security's issuer does not have an adequate capacity to meet all financial commitments under the security for the projected life of the security. The final rule is being issued under section 939(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Savings associations must be in compliance with this rule by January 1, 2013. Additionally, the FDIC has issued final guidance that sets forth due diligence standards for determining the credit quality of a corporate debt security.
Subject:
[+]
Lending / Investments
Dataset Download URL:
https://www.fdic.gov/news/financial-institution-letters/2012/fil12034.html
Format:
PDF
Release Date:
07/24/2012
Update Date:
11/14/2018
Withdrawn Date:
12/01/2018
Agencies Involved:
Federal Deposit Insurance Corporation (FDIC);Office of the Comptroller of the Currency (OCC);
Fdic Employee Involved:
Eric Reither;Kyle Hadley;
Law Involved:
Dodd-Frank Wall Street Reform and Consumer Protection Act;Federal Deposit Insurance Act;
Related Regulation:
12 CFR Part 362
Source:
FDIC Website
Memorandum To:
FDIC-Insured Savings Associations
Effective Date:
07/21/2012
FIL Number:
FIL-34-2012
Main Document Checksum:
[+]
urn:sha256:61a3fafe3d6eafde8c8be06be5bace8de147b5dcbd2c06cff5d98ff6a26d08fe
Download URL:
https://archive.fdic.gov/view/fdic/7059/fdic_7059_DS1.pdf
File Type:

Supporting Files

• 	Final Rule: Permissible Investments for Federal and State Savings Associations: Corporate Debt Securities	pdf
  	Guidance on Due Diligence Requirements for Savings Associations in Determining Whether a Corporate Debt Security is Eligible for Investment	pdf

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