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Article: FDIC Adopts Modified Policy Statement on Private Equity Investments in Failed Banks.(Federal Deposit Insurance Corp.)
- Article from:
- Mondaq Business Briefing
- Article date:
- August 31, 2009
- Author:
CopyrightCOPYRIGHT 2009 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Originally published August 26, 2009
Article by Scott A. Anenberg , Thomas J. Delaney , Charles M. Horn , David R. Sahr and Jeffrey P. Taft
Keywords: FDIC, private equity, failed banks, failed thrifts, de novo banks, de novo thrifts, Tier 1 capital, prompt correction action, cross-guarantee obligations
By a vote of 4-1 (with OTS Acting Director John Bowman dissenting), the board of the Federal Deposit Insurance Corporation (FDIC) adopted a final policy statement establishing guidelines for private equity investors in failed banks or thrifts. The "Final Statement of Policy on Qualifications for Failed Bank Acquisitions" (Policy Statement) ...