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The FDIC rescinded four "outdated" Statements of Policy as part of the agency's effort to reduce the regulatory burden on market participants.
Effective on December 31, 2019, the FDIC rescinded:
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"Treatment of Collateralized Letters of Credit after Appointment of FDIC as Conservator or Receiver";
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"Treatment of Collateralized Put Obligations after Appointment of FDIC as Conservator or Receiver"; and
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"Contracting with Firms That Have Unresolved Audit Issues with FDIC."
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