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FDIC rescinds outdated policy statements
The FDIC has announced it has rescinded four outdated statements of policy effective December 31, 2019:
- Applicability of the Glass-Steagall Act to Securities Activities of Subsidiaries of Insured Nonmember Banks
- Treatment of Collateralized Letters of Credit After Appointment of FDIC as Conservator or Receiver
- Treatment of Collateralized Put Obligations After Appointment of FDIC as Conservator or Receiver
- Contracting with Firms That Have Unresolved Audit Issues with FDIC