What communications should issuers expect to receive during the risk assessment process?
In as timely a manner as possible, the New York Fed will provide issuers with a good faith indication of whether a proposed transaction is likely to satisfy the risk assessment process. At a minimum, issuers should expect some indication from the New York Fed of the status of its risk assessment within two weeks of the sponsor or issuer’s having provided the New York Fed with the required information relating to the transaction (as set forth above), including any required written waivers or consents (as set forth above). Throughout the risk assessment process, issuers will be given the opportunity to clarify details and discuss potential areas of concern with the New York Fed.
