Federal Deposit Insurance Corporation § 344.9August 21st, 2014
FiledAugust 21st, 2014by an issuer to an underwriter pursu- ant to a firm commitment under- written offering registered under the Securities Act of 1933, 15 U.S.C. 77a et seq., or sold to an initial purchaser by a bank participating in the offering. A bank shall not effect or enter into a contract for the purchase or sale of the securities that provides for payment of funds and delivery of securities later than the fourth business day after the date of the contract unless otherwise expressly agreed to by the parties at the time of the transaction.