The American Bankers Association and 11 associations today urged the FDIC to extend by 60 days its request for public input on deposit data not currently reported in call reports or other regulatory reports, including uninsured deposits.
The FDIC in July issued a request seeking information on the characteristics that affect the stability and franchise value of different types of deposits. In their letter, the associations said that given the possibility that the data would be used to inform regulation, reporting and supervisory expectations, the original 60-day time frame provided by the agency for comment was not sufficient.
“It is essential then, that the FDIC have a robust and accurate data set from which to work, and that any additional reporting requirements be sensible and workable for banks of all sizes and their affiliates, particularly affiliated broker-dealers, and their customers,” the associations said.