April 11, 1990
TO: SEC RULES MEMBERS NO. 29-90
RE: RTC STATEMENT OF POLICY REGARDING PAYMENT OF
POST-INSOLVENCY INTEREST
________________________________________________________
As we recently informed you, the Resolution Trust Corp.
("RTC") announced that it will continue to pay interest on
certain obligations of savings and loan associations placed
under RTC conservatorship (see Memorandum to SEC Rules Members
No. 26-90, dated April 4, 1990). Attached is a copy of the
Statement of Policy issued yesterday by the RTC regarding the
payment of post-insolvency interest.
The Statement of Policy only addresses payment of interest
on direct collateralized obligations and does not address
collateralized letters of credit. A separate policy statement
dealing with those instruments will be issued at a later date.
We will keep you informed of developments.
Amy B. Rosenblum
Assistant General Counsel
Attachment