Browsing: Deposit insurance

Compliance

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.

Newsbytes

ABA today wrote to members of the Senate Banking, Housing and Urban Affairs Committee in support of S. 3373, a bipartisan bill introduced by Sens. Mark Warner (D-Va.) and Jerry Moran (R-Kan.) that would clarify that reciprocal deposits of another insured depository institution are not considered brokered deposits.