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Article: Thacher Proffitt Publishes Banking and Finance Bulletin Entitled "Update: FDIC Board Approves Final Covered Bond Policy Statement".
- Article from:
- Business Wire
- Article date:
- July 28, 2008
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NEW YORK -- Thacher Proffitt & Wood LLP announced today the publication of "Update: FDIC Board Approves Final Covered Bond Policy Statement," a Banking and Finance bulletin.
As background, on July 15, 2008, the Board of Directors of the Federal Deposit Insurance Corporation ("FDIC") approved a final statement of policy that addresses the treatment of "covered bonds" in a conservatorship or receivership of a bank ("Final Policy Statement"). The Final Policy Statement supports the expansion of the covered bond market in the United States by providing a structure under which investors in certain covered bonds secured by residential mortgages may be eligible to ...