On August 26, 2009, the Federal Deposit Insurance Corporation (“FDIC”) issued its Final Statement of Policy on Qualifications for Failed Bank Acquisitions (“Final Rules”). The Final Rules signal a retreat, but not a reversal, of the disparate treatment afforded private equity backed bids on failed bank transactions, as compared to bids from strategic acquirors.
Continue Reading...Today the Federal Deposit Insurance Corporation (FDIC) approved a final statement of policy on the acquisition of failed insured depository institutions. The FDIC's press release states that the "policy statement provides guidance to investors interested in acquiring or investing in the deposit liabilities of failed banks or thrifts about the standards they will be expected to meet in order to qualify to bid on a failed institution."
Click here for today's press release, and click here for the actual policy statement.
Today draft regulatory reform legislation on over-the-counter (OTC) derivatives, including credit default swaps, was sent to Capitol Hill. The Treasury Department release states that the "legislation will provide for regulation and transparency for all OTC derivative transactions; strong prudential and business conduct regulation of all OTC derivative dealers and other major participants in the OTC derivative markets; and improved regulatory and enforcement tools to prevent manipulation, fraud, and other abuses in these markets.
Click here for a detailed outline of the legislation released by the Treasury Department, and click here for the actual draft language.
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