FDIC Adopts Final Statement of Policy on Acquisition of Failed Banks by Private Equity Investors

On Wednesday, August 26, 2009, the FDIC adopted a Final Statement of Policy (the "Final Statement") relating to investments by private equity firms in failed banks and other insured depository institutions. Adoption of the Final Statement followed the FDIC's publication of a Proposed Statement of Policy (the "Proposed Statement") on July 9, 2009 and extensive public comment and press regarding the restrictions and limitations that would apply to private equity investors seeking to invest in failed banks. For further details, please click on the PDF link above.