Securitization Safe Harbor Rule; Correction

• Citation: 86 FR 18180
• Record Number: 2021-06724
• Published date: 08 April 2021
• Section: Rules and Regulations
• Court: Federal Deposit Insurance Corporation

Federal Register, Volume 86 Issue 66 (Thursday, April 8, 2021)

[Federal Register Volume 86, Number 66 (Thursday, April 8, 2021)]
                [Rules and Regulations]
                [Page 18180]
                From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
                [FR Doc No: 2021-06724]
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                FEDERAL DEPOSIT INSURANCE CORPORATION
                12 CFR Part 360
                RIN 3064-AF75
                Securitization Safe Harbor Rule; Correction
                AGENCY: Federal Deposit Insurance Corporation (FDIC).
                ACTION: Correcting amendment.
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                SUMMARY: This document contains a correction to the final regulation
                related to the Securitization Safe Harbor Rule which was published in
                the Federal Register on March 4, 2020.
                DATES: Effective on April 8, 2021.
                FOR FURTHER INFORMATION CONTACT: F. Angus Tarpley III, Counsel,
                Receivership Policy Unit, Legal Division, (703) 562-2434,
                [email protected]; Phillip E. Sloan, Counsel, Receivership Policy Unit,
                Legal Division, (703) 562-6137, [email protected]; Alys V. Brown, Honors
                Attorney, Strategic Planning & Operations Group, Legal Division, (202)
                898-3565, [email protected].
                SUPPLEMENTARY INFORMATION:
                Background
                 The final regulation that is the subject of this correction revised
                the FDIC's Securitization Safe Harbor Rule, which relates to the
                treatment of financial assets transferred in connection with a
                securitization transaction, in order to eliminate a requirement that
                the securitization documents require compliance with Regulation AB of
                the Securities and Exchange Commission in circumstances where
                Regulation AB by its terms would not apply to the issuance of
                obligations backed by such financial assets.
                Need for Correction
                 As published, the final regulation contains an error in the Federal
                Register instructions to amend the list of authorities cited for 12 CFR
                part 360.
                List of Subjects in 12 CFR Part 360
                 Banks, Banking, Bank deposit insurance, Holding companies, National
                banks, Participations, Reporting and recordkeeping requirements,
                Savings associations, Securitizations.
                PART 360--[AMENDED]
                0
                For the reasons stated in the preamble, and under the authority of 12
                U.S.C. 1819, the FDIC revises the authority citation for 12 CFR part
                360 to read as follows:
                 Authority: 12 U.S.C. 1811 et seq., 1817(b), 1818(a)(2),
                1818(t), 1819(a) Seventh, Ninth, and Tenth, 1820(b)(3) and (4),
                1820(g), 1821(d)(1), 1821(d)(10)(C), 1821(d)(11), 1821(e)(1),
                1821(e)(8)(D)(i), 1821(f)(1), 1822(c), 1823(c)(4), and 1823(e)(2).
                Federal Deposit Insurance Corporation.
                 Dated at Washington, DC, on or about March 25, 2021.
                James P. Sheesley,
                Assistant Executive Secretary.
                [FR Doc. 2021-06724 Filed 4-7-21; 8:45 am]
                BILLING CODE 6714-01-P