Search Results for agency_names:"Federal Deposit Insurance Corporation"

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Search Results: agency_names:"Federal Deposit Insurance Corporation"

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  • 2020-28473 — Parent Companies of Industrial Banks and Industrial Loan Companies
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    Type:Rule
    Citation:86 FR 10703
    Reading Time:about 2 hours

    The Federal Deposit Insurance Corporation (FDIC) has established a new rule that requires certain commitments and conditions for companies seeking to have an industrial bank or industrial loan company as a subsidiary without being subject to consolidated supervision by the Federal Reserve Board. This rule aims to ensure that these firms, referred to as "Covered Companies," engage in yearly reporting, permit FDIC examinations, and uphold capital and liquidity standards for their industrial bank subsidiaries. These measures are expected to mitigate risks to the Deposit Insurance Fund and maintain the safety and soundness of these financial institutions. The rule also includes a requirement for contingency plans in certain situations to handle financial or operational stress without resorting to bankruptcy or government receivership.

    Simple Explanation

    The FDIC made a rule that if a big company wants to own a special type of bank without following all the regular bank rules, they have to promise to play fair and keep the bank safe and sound.

  • 2020-27046 — Regulatory Capital Treatment for Investments in Certain Unsecured Debt Instruments of Global Systemically Important U.S. Bank Holding Companies, Certain Intermediate Holding Companies, and Global Systemically Important Foreign Banking Organizations; Total Loss-Absorbing Capacity Requirements
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    Type:Rule
    Citation:86 FR 708
    Reading Time:about 4 hours

    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.

    Simple Explanation

    The government has made a new rule for big banks to make sure they don't get too tangled up with each other by telling them to be careful about certain kinds of money they put into other big banks, so they all stay safe and strong.

  • 2021-03210 — Agency Information Collection Activities; Submission for OMB Review; Comment Request
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    Type:Notice
    Citation:86 FR 10157
    Reading Time:about 15 minutes

    The Office of the Comptroller of the Currency, the Federal Reserve System, and the Federal Deposit Insurance Corporation are seeking public comments on proposed updates to the Consolidated Reports of Condition and Income, also known as Call Reports. These updates, intended to remain effective through 2021, address changes in asset measurement dates due to temporary asset growth linked to relief programs from the COVID-19 pandemic. The modifications aim to help financial institutions manage reporting burdens by allowing them to use asset figures from either December 2019 or June 2020 for determining their reporting requirements for the upcoming year. The agencies are inviting feedback about the utility, accuracy, and potential burden of these changes as they move forward with the proposal.

    Simple Explanation

    The government wants to hear from people about new rules for banks to report the money they have. These rules let banks choose older numbers to make reporting easier during the pandemic, and the government wants to know if people think this plan is helpful or too complicated.

  • 2020-26546 — Net Stable Funding Ratio: Liquidity Risk Measurement Standards and Disclosure Requirements
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    Type:Rule
    Citation:86 FR 9120
    Reading Time:about 9 hours

    The Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation have finalized a rule called the Net Stable Funding Ratio (NSFR). This rule is designed to ensure large banking organizations maintain stable funding over a one-year period to support their various financial activities. By requiring stable funding, the rule aims to reduce liquidity risks, ensuring banks can continue to operate smoothly even in challenging economic conditions. This rule applies to large U.S. banks and some foreign banks with significant assets, enhancing the overall stability of the financial system.

    Simple Explanation

    The government made a new rule for big banks to make sure they always have enough safe money set aside, so they can keep running smoothly even if things get tough in the economy. This helps keep everyone's money safer in the bank!

  • 2021-02375 — Proposed Agency Information Collection Activities; Comment Request
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    Type:Notice
    Citation:86 FR 8480
    Reading Time:about 32 minutes

    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.

    Simple Explanation

    The government wants to change some rules about how banks tell them about their money, like if it's from special kinds of deposits. They are asking people to say what they think about these rule changes to make sure banks are being safe with their money.

  • 2021-00037 — Exemptions to Suspicious Activity Report Requirements
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    Type:Proposed Rule
    Citation:86 FR 6580
    Reading Time:about 29 minutes

    The Federal Deposit Insurance Corporation (FDIC) is proposing a new rule allowing it to exempt certain supervised institutions from filing Suspicious Activity Reports (SARs). This proposed rule aims to give these institutions the flexibility to develop innovative solutions for meeting Bank Secrecy Act (BSA) requirements more efficiently. If enacted, the rule would align the FDIC more closely with the Financial Crimes Enforcement Network (FinCEN), reducing regulatory burdens for institutions using advanced technologies. The rule outlines procedures for exemption and invites public comments until February 22, 2021.

    Simple Explanation

    The FDIC might let some banks skip a special report called a Suspicious Activity Report if they have cool new ways to keep safe money rules while saving time and effort, but there are concerns it might be too tricky or unfair for smaller banks.