To All Depository Institutions and Others Concerned in the Second Federal Reserve District:
In a press release, five federal agencies agreed to extend for 30 days the comment period on the proposed Interagency Statement on Sound Practices Concerning Complex Structured Finance Activities published in the Federal Register on May 19, 2004.
This extension was granted in response to request from eight trade associations representing financial institutions to provide the public with additional 30-day period to review, analyze and submit comments on the proposed interagency statement.
The public comment period on the interagency statement will now end July 19, 2004. The scope and process for this interagency statement remain as stated in the original Federal Register notice of May 19, 2004 and comments should be received on or before July 19, 2004.
Diane L. Virzera
Counsel and Assistant Vice President