On March 11, the board of directors of the FDIC approved a final rule extending the safe harbor provided by the FDIC with respect to securitizations and participations until September 30. 

All securitizations and participations issued on or before September 30 (including securitizations by revolving trusts issued on or before September 30) will fall under the safe harbor so long as the securitizations or participations would satisfy the conditions for sale accounting treatment under GAAP as in effect prior to November 15, 2009, and would otherwise comply with existing Section 360.6. FDIC Release. FDIC Rule.