A Marginally Important Day: FDIC’s Board Approves Joint Final Rule On Margin for Uncleared Swaps and Finalizes Relief for End-Users

By | Derivatives & Repo Report | October 22, 2015

Earlier today, the Board of Directors (the “Board”) of the Federal Deposit Insurance Corporation (FDIC) approved a final rule to establish margin requirements on non-cleared swaps and security-based swaps (collectively, for this posting, “non-cleared swaps”). 

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Eleventh Circuit Upholds Directors’ Affirmative Defenses Based On FDIC’s Post-Receivership Conduct

Eleventh Circuit Upholds Directors’ Affirmative Defenses Based On FDIC’s Post-Receivership Conduct

The US Court of Appeals for the Eleventh Circuit recently issued the first appellate decision holding that, in actions brought by the Federal Deposit Insurance Corporation (FDIC), the officers and directors of failed banking institutions can assert affirmative defenses relating to the FDIC’s post-receivership conduct.

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Eleventh Circuit Rejects FDIC’s “No Duty” Argument, Allows Post-Receivership Affirmative Defenses Against the Agency

By | The D & O Diary | January 13, 2014
Eleventh Circuit Rejects FDIC’s “No Duty” Argument, Allows Post-Receivership Affirmative Defenses Against the Agency

One of the most contentious issues in the litigation the FDIC has been pursuing in its capacity as receiver of various failed banks is whether the defendant former directors and officers can assert affirmative defenses against the FDIC for the agency’s own conduct.

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