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Restrictions on Sales of Assets of a Covered Financial Company by the Federal Deposit Insurance Corporation

FDIC · final-rule · Published 2014-04-14 · Effective 2014-07-01 · 79 FR 20762

Document

Document number
2014-08258
Federal Register citation
79 FR 20762
CFR reference
12 CFR 380
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US Federal Deposit Insurance Corporation
Publication date
2014-04-14
Effective date
2014-07-01

Abstract

The Federal Deposit Insurance Corporation ("FDIC") is adopting a final rule (the "final rule") to implement a section of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd- Frank Act"). Under that section, individuals or entities that have, or may have, contributed to the failure of a "covered financial company" cannot buy a covered financial company's assets from the FDIC. The final rule establishes a self-certification process that is a prerequisite to the purchase of assets of a covered financial company from the FDIC.

Source

Authoritative
Federal Register document
Machine
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