Temporary Waiver of Weiss Bank Safety Rating for CAF II and RDOF

The Federal Communications Commission's Wireline Competition Bureau (Bureau) partially waived, on one's own behalf, the requirement that a bank issuing a letter of credit (LOC) to a support recipient for either the Connect America Fund Phase II Auction (Auction 903) or the Rural Digital Opportunity Fund Auction (Auction 904) maintain a Weiss bank safety rating of B- or better.  This limited waiver only applies to banks that previously issued LOCs to Auction 903 or 904 support recipients, and therefore previously had a Weiss bank safety rating of B- or better.  This waiver expires in one year, on March 12, 2025. This waiver will allow auction support recipients whose support was suspended solely because their bank’s Weiss safety rating fell below a B-, and who have not yet obtained a new LOC from a bank with a sufficient Weiss safety rating, to resume receiving support. During this temporary waiver period, the Bureau anticipates an evaluation of potential long-term solutions to the bank eligibility issue.