FDIC Vote Still On, Rules Not Yet Finalized

WASHINGTON (Reuters) – U.S. regulators are still finalizing guidelines for private equity investments in distressed banks but expect to have a final vote on the issue later on Wednesday, the acting director of the Office of Thrift Supervision said.

“We’re still in the process of discussions on what that document will look like,” John Bowman told reporters during a briefing on the earnings of the thrift industry.

The Federal Deposit Insurance Corp, which includes Bowman among its board members, is expected to soften the private equity guidelines first proposed in July, in an attempt to attract more investors to the assets of distressed banks. (Reporting by Karey Wutkowski, with additional reporting by Steve Eder, editing by Gerald E. McCormick)