Federal Deposit Insurance Corporation April 23, 2008 – Federal Register Recent Federal Regulation Documents

Covered Bond Policy Statement
Document Number: E8-8750
Type: Notice
Date: 2008-04-23
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (the FDIC) is publishing for comment an interim final policy statement (``Policy Statement'') on the treatment of covered bonds in a conservatorship or receivership. The Policy Statement provides guidance on the availability of expedited access to collateral pledged for certain covered bonds in a receivership or a conservatorship, after the FDIC decides whether to terminate or continue the transaction. The Policy Statement provides guidance to facilitate the prudent and incremental development of the U.S. covered bond market while the FDIC, and other regulators, evaluate the benefits and risks of these products in the U.S. mortgage market. The Policy Statement is being published as ``interim final'' in order to provide immediate guidance, but with a view to possible later amendment in response to comments received.
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