Capital Treatment of Recourse
December 3, 2001
Circular No. 11403

To All Depository Institutions and Others Concerned in the Second Federal Reserve District:

In a Federal Register notice (pdf - 333kb), the Office of the Comptroller of the Currency, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision have announced a final rule, effective January 1, 2002, regarding the capital treatment of recourse obligations.

Questions on this matter may be directed, at this Bank to Dianne Dobbeck, Senior Financial Analyst, Policy and Analysis Function.