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FDIC | RIN: 3064-AE26 | Publication ID: Spring 2015 |
Title: Restrictions on Sale of Assets by the Federal Deposit Insurance Corporation | |
Abstract:
The Federal Deposit Insurance Corporation (FDIC) is amending its regulations. Part 340 implements section 11(p) of the Federal Deposit Insurance Act. Under section 11(p), individuals or entities whose acts or omissions have, or may have, contributed to the failure of an insured depository institution cannot buy the assets of that failed insured depository institution from the FDIC. The proposed revisions to part 340 will help to clarify its purpose, scope and applicability, and will make it more consistent in our regulations, the parallel provision in the FDIC’s Orderly Liquidation Authority regulations that implements section 210(r) of the Dodd-Frank Wall Street Reform and Consumer Protection Act by placing restrictions on sales of assets of a covered financial company by the FDIC. Sections of part 340 became effective on July 1, 2014.
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Agency: Federal Deposit Insurance Corporation(FDIC) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 340 | |
Legal Authority: 12 U.S.C. 1819(10) 12 U.S.C. 1821(p) |
Legal Deadline:
None |
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Timetable:
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Additional Information: Email: Comments@fdic.gov. Include RIN # 3064-AE26 in the subject line of the message. | |
Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Information URL: www.fdic.gov/regulations/laws/federal/ | Public Comment URL: www.fdic.gov/regulations/laws/federal/ |
RIN Data Printed in the FR: No | |
Agency Contact: Elizabeth Falloon Counsel Federal Deposit Insurance Corporation 550 17th Street NW, Washington, DC 20429 Phone:703 562-6148 Email: efalloon@fdic.gov Shane Kiernan Counsel Federal Deposit Insurance Corporation 550 17th Street NW, VS-D-7116, Washington, DC 20429-0002 Phone:703 562-2632 Email: skiernan@fdic.gov |