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The FDIC proposed rescinding four "outdated" Statements of Policy as part of the agency's effort to reduce the regulatory burden on market participants.
The four FDIC Statements of Policy are:
- "Applicability of the Glass-Steagall Act to Securities Activities of Subsidiaries of Insured Nonmember Banks";
- "Treatment of Collateralized Letters of Credit after Appointment of FDIC as Conservator or Receiver";
- "Treatment of Collateralized Put Obligations after Appointment of FDIC as Conservator or Receiver"; and
- "Contracting with Firms That Have Unresolved Audit Issues with FDIC."
Comments must be submitted by October 30, 2019.
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