Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
Financial Institution Letter

Repurchase Agreements

TO: CHIEF EXECUTIVE OFFICER 
SUBJECT: FDIC Adopts FFIEC's Modified Policy Statement on Repurchase Agreements 

The FDIC Board of Directors has adopted the Federal Financial Institutions Examination Council's (FFIEC) recently revised supervisory policy statement on repurchase agreements. A copy of the policy statement is attached. It provides guidance to insured depository institutions on repurchase agreement activities, including guidelines for written repurchase agreements, policies and procedures, credit risk management, and collateral management. 

The policy statement has three principal revisions. First, a new section covering the requirements of the Government Securities Act has replaced an obsolete section dealing with unregulated securities dealers. Second, the policy statement has been streamlined and updated to generally cover other laws and regulations. Third, the list of written repurchase agreement provisions has been updated to reflect current market practice. 

For more information, please contact Keith Ligon, Policy Section Chief in the Securities, Capital Markets and Trust Branch of the FDIC's Division of Supervision (DOS), on (202) 898-3618 or Kenton P. Fox, Senior Capital Markets Specialist in DOS, on (202) 898-7119; or Leslie Sallberg, Counsel in the FDIC's Legal Division, on (202) 898-8876.

Nicholas J. Ketcha Jr.

Director

 

Attachment: Feb. 20 Federal Register, pages 8645-8649. 

Distribution: FDIC-Supervised Banks (Commercial and Savings) 

NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, N.W., Room 100, Washington, D.C. 20434 (800-276-6003 or (703) 562-2200). 

FIL-22-98

Last Updated: February 25, 1998