Howard S. Altarescu


New York

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Howard Altarescu is a partner in Orrick's Finance group. He co-leads the Firm’s global Fintech team, which is focused on advising a wide array of fintech platforms and other businesses.

Howard has previously served as Orrick's Finance Sector Leader, responsible for implementing the firm's strategy to provide distinctive transactional, litigation and regulatory services to financial institution clients globally, as well as co-head of the firm’s Finance Business Unit. In these roles, Howard has a broad strategic, advisory and business development role at the firm, drawing on many years of experience, both in law firms and as a banker helping clients develop innovative financial solutions to meet their objectives. Howard currently advises bank and non-bank financial institutions in connection with innovative capital markets, debt financing and other transactions, as well as on the implications of financial markets regulation and developments. Most recently, Howard has focused with clients on the LIBOR transition and has authored a number of client alerts on the transition that can be found at In addition, Howard is co-chair of the Finance, Securitization and Safe Contract working group of MOBI (the Mobility Open Blockchain Initiative), which will assess the potential value proposition of blockchain, work on standards, and potentially, help coordinate logistics necessary to carry out a pilot program for use cases in finance and securitization. 

Posts by: Howard S. Altarescu

FDIC Final Rule for “Safe Harbor” Protection

On September 27, the Board of Directors of the FDIC approved a Final Rule (the “Final Rule”) that governs the rights of the FDIC, as conservator or receiver of a failed insured depository institution (a “Bank”), over financial assets previously transferred by such Bank in connection with a securitization or participation transaction. The Final Rule sets forth the circumstances under which the FDIC will provide a “safe harbor” to investors by not repudiating contracts or reclaiming property and the circumstances under which the FDIC will provide investors with other, more limited, protections. The Final Rule should be considered in light of the provisions of the recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act and the SEC’s proposed “Regulation AB II”, both of which cover certain of the matters that are also covered by the Final Rule. While the provisions of the Dodd-Frank Act and of Regulation AB II will be applicable to securitizations whether or not a Bank is involved, the requirements of the Final Rule should be applicable only to Bank transactions. Read More.