Search Results for agency_names:"Federal Deposit Insurance Corporation"

The Federal Deposit Insurance Corporation (FDIC) announced its plan to end the receivership of an institution, as the process of liquidating its assets is complete. The FDIC will make a final payment to verified creditors using the available funds. The receivership's termination is set to occur no less than 30 days from the notice's release date. Individuals wishing to comment on this decision must submit their remarks in writing to the FDIC within the 30-day window.

The Federal Deposit Insurance Corporation (FDIC) is inviting the public and other federal agencies to comment on the renewal of two existing information collections as part of the Paperwork Reduction Act of 1995. The first collection relates to the Pillar 2 Guidance under the Advanced Capital Framework, which requires certain banks to document and assess their capital adequacy processes. The second collection involves the Credit Risk Retention Rule, requiring institutions to retain a portion of the credit risk for asset-backed securities they issue. Comments are open until January 13, 2025, and can be submitted by various methods, including email and post.

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 Federal Deposit Insurance Corporation (FDIC) will hold a public board meeting via webcast on December 17, 2024, at 10:00 a.m. The meeting will cover important topics such as the proposed 2025 FDIC Operating Budget, policies related to the Anti-Money Laundering Act, and bank capital distributions during emergencies. The meeting will be open for public observation, and those needing assistance, like sign language interpretation, can contact the FDIC for arrangements.

The Federal Deposit Insurance Corporation (FDIC) has announced that it is granting temporary relief to certain financial institutions. These institutions, which manage mortgage servicing accounts, are being given until March 31, 2022, to meet specific technology and recordkeeping requirements necessary for calculating deposit insurance. This relief period is intended to allow these institutions more time to improve their systems and processing capabilities. The FDIC will continue to monitor the situation and may change or withdraw the relief if needed.

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 Federal Deposit Insurance Corporation (FDIC) has completed the process of winding up the affairs of a particular insured depository institution and has liquidated all related assets. The FDIC, acting as the Receiver, has also authorized FDIC-Corporate to handle any necessary paperwork. As of the termination date, the Receivership is officially closed, meaning the Receiver's duties are complete and it no longer exists as a legal entity.

The Federal Deposit Insurance Corporation (FDIC) is inviting comments from the public and federal agencies on a proposed information collection related to deposit insurance awareness. This initiative is part of the FDIC's responsibilities under the Paperwork Reduction Act of 1995. They will conduct a survey to evaluate public awareness and understanding of deposit insurance and its effects on financial decisions. The survey aims to gather input that will help enhance the FDIC's communication, education, and outreach efforts, ensuring the financial system's stability and public confidence.

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) granted temporary exceptions to certain banks from specific recordkeeping and information technology requirements. These exceptions are intended to help banks address challenges such as data cleanup, system updates, and assigning appropriate account codes needed to determine deposit insurance coverage quickly. These exceptions apply to various account types, including trust accounts and internal work-in-process accounts, and allow banks additional time to implement necessary changes. Banks must provide progress reports and ensure they can calculate deposit insurance accurately in case of failures, subject to ongoing FDIC review.