Search Results for keywords:"FDIC"

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Search Results: keywords:"FDIC"

  • Type:Proposed Rule
    Citation:89 FR 99751
    Reading Time:about 39 minutes

    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This review, under the Economic Growth and Regulatory Paperwork Reduction Act of 1996, aims to identify rules that are outdated, unnecessary, or too burdensome.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.

    Simple Explanation

    The government is asking people to help them find out which rules banks have to follow are too old or not needed anymore. They want ideas from everyone, especially from small banks, to make sure the rules are fair and not too hard.

  • Type:Proposed Rule
    Citation:86 FR 8145
    Reading Time:about 63 minutes

    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 The FDIC plans to streamline regulations by removing outdated rules transferred from the Office of Thrift Supervision and creating a new unified regulation for securities disclosures.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.

    Simple Explanation

    The FDIC wants to change how some banks and savings places tell people about their money stuff to make it easier and the same for everyone. They're taking away some old rules and want to get new ideas from people before making a new rule by April 5, 2021.

  • 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.

  • Type:Rule
    Citation:86 FR 8104
    Reading Time:about 40 minutes

    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.

    Simple Explanation

    The FDIC has decided to clean up old rules from another agency to make things simpler, so now all banks they watch over will follow the same rules, kind of like having the same bedtime rules for all kids in the house.

  • Type:Rule
    Citation:86 FR 8089
    Reading Time:about 42 minutes

    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.

    Simple Explanation

    The FDIC decided to remove some old rules they got from another agency in 2011 and make things simpler for certain banks, so they all follow similar rules. This change is like tidying up, and it shouldn't make a big difference to the banks involved.

  • 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.

  • Type:Rule
    Citation:86 FR 8082
    Reading Time:about 43 minutes

    The FDIC has issued a final rule to simplify its regulations by rescinding outdated and redundant policies regarding nondiscrimination. It is removing a regulation known as "Nondiscrimination Requirements" and updating the "Fair Housing" regulation to also cover State savings associations. This change ensures all FDIC-supervised banks follow the same nondiscrimination rules, aligning with federal laws like the Equal Credit Opportunity Act and Fair Housing Act. The rule will take effect on March 5, 2021, with additional compliance deadlines set for February 3, 2022.

    Simple Explanation

    The FDIC is making some old rules about not being unfair disappear and changing the rules around fair housing so they apply to more banks, making sure everyone follows the same rules about treating people fairly when they want loans or a place to live.

  • Type:Proposed Rule
    Citation:90 FR 12115
    Reading Time:about 3 minutes

    The Federal Deposit Insurance Corporation (FDIC) is withdrawing its proposed rules related to brokered deposit restrictions, corporate governance, and the Change in Bank Control Act. These proposals, published in 2023 and 2024, aimed to revise existing regulations but faced issues like being overly complex, conflicting with state laws, and potentially discouraging investments in banks. If the FDIC decides to take regulatory action on these matters in the future, it will announce new proposals.

    Simple Explanation

    The FDIC has decided not to continue with some new banking rules that might have been too confusing or made it hard for people to invest in banks; if they want to try again later, they'll come up with new ideas.

  • Type:Rule
    Citation:86 FR 8098
    Reading Time:about 37 minutes

    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.

    Simple Explanation

    Imagine a school that has a bunch of rules nobody really needs anymore because other important rules already cover what they say. The people in charge decide to erase those unneeded rules, so everything is easier to read and follow. That's what the FDIC did with these old money-organization rules.

  • Type:Proposed Rule
    Citation:86 FR 9028
    Reading Time:about 18 minutes

    The Federal Deposit Insurance Corporation (FDIC) has proposed a new rule to simplify its regulations by removing outdated and unnecessary ones. This proposed rule focuses on eliminating certain definitions transferred from the Office of Thrift Supervision (OTS) that are no longer applicable because related regulations are being removed. The change would primarily affect a small number of state savings associations supervised by the FDIC and is not expected to have a significant impact on these institutions or the larger economy. The FDIC invites public comments on the proposed rule and its potential effects.

    Simple Explanation

    The FDIC wants to clean up some old rules that don't matter anymore, making things simpler for certain banks, and they are asking people what they think about this change.

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