^®: CRE Regulatory Action of the Week

Proposed Sound Practices For Complex Structured Finance Activities
The SEC, FDIC, Federal Reserve Board, Office of Thrift Supervision, and the Office of the Comptroller of the Currency have proposed an interagency statement on complex structured activities of financial institutions supervised by these agencies. The interagency statement describes the type of internal controls and risk management procedures that the agencies believe are particularly effective in assisting financial institutions to identify and address the reputational, legal, and other risks associated with complex structured finance transactions. The comment period for this important interagency statement has been extended to July 19, 2004.