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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (80381)3/26/2007 9:12:40 PM
From: J_Locke  Read Replies (1) of 110194
 
It was Countrywide. Maybe this is supposed to give them more flexibility to meet capital requirements when the write-offs start coming. I suppose it all depends on what the definition of "substantially similar" is. From their latest 10K:

Regulatory Capital Requirements: As a savings and loan holding company, Countrywide will not be
subject to the consolidated regulatory capital requirements applicable to a bank holding company.
However, the OTS expects savings and loan holding companies to maintain capital that is sufficient to
support the holding company’s business activities, and the risks inherent in those activities. Countrywide
Bank will remain subject to capital requirements that are substantially similar to those applicable to
national banks.
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