Search Results for agency_names:"Federal Deposit Insurance Corporation"

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.

The Federal Deposit Insurance Corporation (FDIC) is seeking public comments on the renewal of an information collection called the National Survey of Unbanked and Underbanked Households. This survey aims to understand how many U.S. households do not use traditional banking services and the reasons why. It's part of the FDIC's efforts to help more people access safe and affordable banking options. Interested parties can submit their comments by February 12, 2025, through various channels like email or the FDIC website.

The Federal Deposit Insurance Corporation (FDIC) is proposing to rescind its 2024 Statement of Policy on Bank Merger Transactions and return to its previous policy. The change comes after concerns that the 2024 policy created uncertainty and confusion around the merger process for banks. The FDIC is seeking public comments on this proposal by April 10, 2025. They plan to review all aspects of their merger policy in the future and request additional comments at that time.

The Federal Deposit Insurance Corporation (FDIC) is planning to end the receivership for a certain institution, which means it will no longer oversee its liquidation process. The FDIC has completed the sale of the institution's assets and will distribute the final payments to creditors using the remaining funds. Affected parties have 30 days from the notice date to submit written comments about the termination. This decision is made under the authority provided by U.S. law and aims to conclude the receivership now that it no longer serves a useful purpose.

The Federal Deposit Insurance Corporation (FDIC) held a closed meeting via video conference on January 19, 2021, at 10:22 a.m. The Board determined that urgent corporation business needed attention with less than seven days' public notice and decided that these matters could not be discussed in an open meeting due to specific exemptions under the "Government in the Sunshine Act." Individuals seeking more information about the meeting are advised to contact Ms. Debra A. Decker, Deputy Executive Secretary of the Corporation.

The Depository Institutions Disaster Relief Act of 1992 (DIDRA) allows agencies to temporarily suspend some appraisal requirements under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) for real estate transactions in disaster areas. Following the President's declaration of a major disaster in Los Angeles County, California due to wildfires and straight-line winds starting January 7, 2025, these exceptions have been granted for affected real estate transactions until January 8, 2028. The exceptions aim to facilitate recovery and are consistent with safe banking practices, as long as certain conditions are met, like having a commitment to fund transactions and ensuring the property's value is supportive.

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.

The Federal Deposit Insurance Corporation (FDIC) announced a public board meeting to be held on January 19, 2021, at 10:00 a.m. Due to COVID-19 concerns, the meeting will be webcast live online for public viewing. The board will cover various topics, including the final rule on the role of supervisory guidance, and proposed rule changes regarding securities offerings. Further information can be obtained from the Deputy Executive Secretary, Ms. Debra A. Decker.

The Federal Deposit Insurance Corporation (FDIC) acted as the Receiver for certain insured banks, handling the closure and asset liquidation of these institutions. The FDIC has completed its duties, distributed necessary dividends, and subsequently appointed FDIC-Corporate to handle any remaining documentation. As of the listed termination dates, the receiverships are officially closed, and the entities no longer exist legally. This action is backed by the authority of U.S. law.

The Federal Deposit Insurance Corporation (FDIC) is seeking comments regarding the renewal of an information collection under the Paperwork Reduction Act. This collection, identified as OMB Control No. 3064-0121, involves a certification of compliance with mandatory bars to employment, ensuring job applicants meet minimum standards of integrity. Comments are invited on the necessity and practicality of this information collection, as well as suggestions for improving its quality and reducing the burden on respondents. Responses must be submitted by April 2, 2025.