Search Results for agency_names:"Federal Deposit Insurance Corporation"

The Federal Deposit Insurance Corporation (FDIC) has implemented a final rule to remove outdated and duplicative regulations related to "Prompt Corrective Action" that were inherited from the Office of Thrift Supervision (OTS). The goal is to streamline regulations and ensure clarity by consolidating these rules into existing FDIC regulations. This change affects state savings associations, making it clear that all FDIC-supervised institutions will follow the same regulations. These adjustments are not expected to have substantial impacts on small entities, as the rules remain consistent with existing FDIC standards.

The Federal Deposit Insurance Corporation (FDIC) has issued a final rule that updates its procedures for collecting debt. This amendment specifically allows for the collection of civil money penalties (CMPs) by including them in the scope of existing debt-collection regulations. The rule aligns with the Debt Collection Improvement Act of 1996 and aims to enhance FDIC's ability to recover debts by using existing Treasury procedures. Although the rule does not impose new requirements on insured institutions, it potentially increases the success rate of collecting delinquent CMPs.

The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC) have finalized a rule concerning the treatment of certain debt investments by advanced banking organizations. The rule requires these organizations to deduct from their regulatory capital any investments in unsecured debt instruments issued by systemically important banks, known as GSIBs, to meet specific capacity requirements. This rule aims to reduce interconnectedness and systemic risks within the financial system and includes adjustments following public comments on the proposal. Additionally, the rule incorporates several technical amendments and new definitions to its regulatory framework.

The Federal Deposit Insurance Corporation (FDIC) is proposing changes to its regulations concerning securities offerings by State savings associations and State nonmember banks. The FDIC plans to streamline regulations by removing outdated rules transferred from the Office of Thrift Supervision and creating a new unified regulation for securities disclosures. This new rule aims to simplify and align requirements with current securities laws, ensuring both State savings associations and State nonmember banks are subject to the same rules. The proposed rule also includes technical amendments and invites public comments on these changes until April 5, 2021.

The Office of the Comptroller of the Currency, the Federal Reserve Board, and the FDIC are requesting public comments on proposed revisions and extensions to specific reports, aiming to update the guidelines for reporting certain types of deposits, such as brokered and sweep deposits. These revisions align with regulations like the Net Stable Funding Ratio and address exceptions in the revised definition of brokered deposits. Public feedback is sought on whether these updates improve the agencies' ability to monitor financial institutions and assess related risks. The changes are set to take effect beginning with the report date of June 30, 2021.

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively known as "the agencies") are reviewing regulations affecting insured depository institutions. This review, under the Economic Growth and Regulatory Paperwork Reduction Act of 1996, aims to identify rules that are outdated, unnecessary, or too burdensome. The agencies are seeking public comments on specific categories of regulations, including Rules of Procedure, Safety and Soundness, and Securities, in hopes of reducing the regulatory impact, especially on community banks. Public comments are invited until March 11, 2025, and the agencies will use these to help decide if any regulations should be adjusted or removed.

The proposed rule requires banking organizations to notify their primary federal regulator within 36 hours of determining in good faith that a "computer-security incident" has occurred that could cause significant disruptions to operations. A "notification incident" is an incident deemed serious enough to impact banking services or financial stability. Additionally, bank service providers must alert at least two individuals at affected banking organization customers immediately upon experiencing a significant disruption lasting four or more hours. This rule aims to ensure timely and effective responses to potential cybersecurity threats impacting the banking sector.

The Federal Deposit Insurance Corporation (FDIC) has issued a final rule to adjust the way deposit insurance assessments for large banks are calculated. This change is aimed at preventing the temporary double counting of certain credit loss amounts related to the Current Expected Credit Losses (CECL) methodology in these assessments. By doing so, the rule ensures that big banks are charged fairly and accurately for their deposit insurance. The final rule will take effect on April 1, 2021, and is not expected to affect small banks or change regulatory capital.

The Federal Deposit Insurance Corporation (FDIC) has finalized a rule to remove certain regulations that were transferred from the Office of Thrift Supervision (OTS) to the FDIC in 2011 under the Dodd-Frank Act. These regulations mainly dealt with the supervision of State savings associations. The final rule, effective March 5, 2021, aims to simplify regulations by rescinding unnecessary ones and making technical changes so that State savings associations follow similar filing requirements as other FDIC-supervised institutions. The FDIC expects these changes to have minimal impact on the affected institutions.

The Federal Deposit Insurance Corporation (FDIC) has issued a final rule to remove obsolete regulations related to subordinate organizations of State savings associations, which were originally transferred from the Office of Thrift Supervision (OTS) following the Dodd-Frank Act. These regulations, found in 12 CFR part 390, subpart O, were deemed unnecessary because their requirements are largely duplicated by other existing Federal Deposit Insurance Act (FDI Act) provisions. By removing these regulations, the FDIC aims to simplify its rules, making them easier for the public and State savings associations to understand and follow. The changes are set to take effect on March 5, 2021.