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Department of Interior Proposes New Financial Assurance and Decommissioning Regulations

The Energy Law

The regulations provide that the institution managing the account is required to use account funds to purchase Treasury securities pledged to BOEM until the amount of the funds in the account equals the maximum amount insurable by the Federal Deposit Insurance Corporation (“FDIC”).

article thumbnail

Department of Interior Proposes New Financial Assurance and Decommissioning Regulations

The Energy Law

The regulations provide that the institution managing the account is required to use account funds to purchase Treasury securities pledged to BOEM until the amount of the funds in the account equals the maximum amount insurable by the Federal Deposit Insurance Corporation (“FDIC”).