Agencies Extend Comment Period on Statement Concerning Complex Structured Finance Activities

Joint Release

Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation
Securities and Exchange Commission
Office of the Comptroller of the Currency
Office of Thrift Supervision

Five federal agencies today 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.

In a letter submitted to the five agencies on June 10, eight trade associations representing financial institutions asked the agencies to provide the public with an 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 comment 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.