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Rule

Securitization Safe Harbor Rule; Correction

A Rule by the Federal Deposit Insurance Corporation on 04/08/2021

Document Details

Information about this document as published in the Federal Register.

Printed version:
PDF
Publication Date:
04/08/2021
Agency:
Federal Deposit Insurance Corporation
Dates:
Effective on April 8, 2021.
Effective Date:
04/08/2021
Document Type:
Rule
Document Citation:
86 FR 18180
Page:
18180 (1 page)
CFR:
12 CFR 360
RIN:
3064-AF75
Document Number:
2021-06724
Document Details
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Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble

AGENCY:

Federal Deposit Insurance Corporation (FDIC).

ACTION:

Correcting amendment.

SUMMARY:

This document contains a correction to the final regulation related to the Securitization Safe Harbor Rule which was published in the Federal Register on March 4, 2020.

DATES:

Effective on April 8, 2021.

Start Further Info

FOR FURTHER INFORMATION CONTACT:

F. Angus Tarpley III, Counsel, Receivership Policy Unit, Legal Division, (703) 562-2434, ftarpley@FDIC.gov; Phillip E. Sloan, Counsel, Receivership Policy Unit, Legal Division, (703) 562-6137, psloan@fdic.gov; Alys V. Brown, Honors Attorney, Strategic Planning & Operations Group, Legal Division, (202) 898-3565, alybrown@fdic.gov.

End Further Info End Preamble Start Supplemental Information

SUPPLEMENTARY INFORMATION:

Background

The final regulation that is the subject of this correction revised the FDIC's Securitization Safe Harbor Rule, which relates to the treatment of financial assets transferred in connection with a securitization transaction, in order to eliminate a requirement that the securitization documents require compliance with Regulation AB of the Securities and Exchange Commission in circumstances where Regulation AB by its terms would not apply to the issuance of obligations backed by such financial assets.

Need for Correction

As published, the final regulation contains an error in the Federal Register instructions to amend the list of authorities cited for 12 CFR part 360.

Start List of Subjects

List of Subjects in 12 CFR Part 360

  • Banks
  • Banking
  • Bank deposit insurance
  • Holding companies
  • National banks
  • Participations
  • Reporting and recordkeeping requirements
  • Savings associations
  • Securitizations
End List of Subjects Start Part

PART 360—[AMENDED]

End Part Start Amendment Part

For the reasons stated in the preamble, and under the authority of 12 U.S.C. 1819, the FDIC revises the authority citation for 12 CFR part 360 to read as follows:

End Amendment Part Start Authority

Authority: 12 U.S.C. 1811 et seq., 1817(b), 1818(a)(2), 1818(t), 1819(a) Seventh, Ninth, and Tenth, 1820(b)(3) and (4), 1820(g), 1821(d)(1), 1821(d)(10)(C), 1821(d)(11), 1821(e)(1), 1821(e)(8)(D)(i), 1821(f)(1), 1822(c), 1823(c)(4), and 1823(e)(2).

End Authority Start Signature

Federal Deposit Insurance Corporation.

Dated at Washington, DC, on or about March 25, 2021.

James P. Sheesley,

Assistant Executive Secretary.

End Signature End Supplemental Information

[FR Doc. 2021-06724 Filed 4-7-21; 8:45 am]

BILLING CODE 6714-01-P

Published Document