Tag Archives: bank failures

FDIC Approves Deposit Recordkeeping Final Rule

The FDIC board today approved a final rule requiring banks with more than 2 million deposit accounts to upgrade their deposit recordkeeping systems to facilitate the determination of FDIC insured deposits in the event of a bank failure.

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ABA, Groups Call for Revisions to FDIC Deposit Recordkeeping Proposal

In a joint letter with three other financial trade associations today, ABA responded to an FDIC proposal that would require banks with more than 2 million deposit accounts to collect extensive depositor information and develop systems that would allow the FDIC to close the bank and use the bank’s system to make deposit insurance determinations.

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FDIC Proposes Deposit Account Recordkeeping Rule

The FDIC today issued a proposal requiring banks with more than 2 million deposit accounts to upgrade their deposit recordkeeping systems to facilitate the determination of FDIC insured deposits in the event of a bank failure.

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ABA: Allow Enough Time for Insured Deposit Determination Change

The new recordkeeping standards contemplated by the FDIC for banks with more than 2 million deposit accounts -- intended to help the agency determine promptly whether deposits are insured or not after a bank fails -- would require major upgrades to bank IT systems, ABA said in a comment letter yesterday.

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​FDIC Seeks Comment on Insured Deposit Determination at Large Banks

To help the FDIC determine promptly whether deposits are insured or not after a bank fails, the FDIC today requested comment on a proposed set of new recordkeeping standards for large banks — those with more than 2 million deposit accounts. The proposal would apply to 37 of the country’s largest banks, the agency estimated. It would shift the burden ...

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