Search Results for keywords:"Federal Deposit Insurance Corporation"

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Search Results: keywords:"Federal Deposit Insurance Corporation"

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  • 2021-00371 — Branch Application Procedures; Correction
    Type:Rule
    Citation:86 FR 9433
    Reading Time:about a minute or two

    The Federal Deposit Insurance Corporation (FDIC) has issued a correction to a previous regulation published on November 13, 2020, which deals with Branch Application Procedures. The regulation amendment aims to fix an error in the instructions concerning the establishment and relocation of branches and offices, specifically regarding statements about compliance with the National Historic Preservation Act of 1966 and the National Environmental Policy Act of 1969. As a result of this correction, certain paragraphs in the regulation are being removed and others are being renumbered. This correction became effective on February 16, 2021.

    Simple Explanation

    The FDIC found a mistake in some rules they made about how banks open new branches, so they fixed it to make sure everyone follows the right steps when looking after old and special places in the environment.

  • 2021-02783 — Notice of Termination of Receiverships
    Type:Notice
    Citation:86 FR 9071
    Reading Time:less than a minute

    The Federal Deposit Insurance Corporation (FDIC), acting as the Receiver for several insured banks, has completed its role of wrapping up the banks' affairs and liquidating their assets. The FDIC has transferred the authority to execute any necessary legal documents to FDIC-Corporate. As a result, the receiverships have been terminated and no longer exist as legal entities.

    Simple Explanation

    The FDIC, like a helper for banks that are closing down, finished its job of taking care of some banks' leftover things and selling their stuff. Once everything was sorted out, they passed on the paperwork to another part of FDIC, and now these specific helpers are no longer needed.

  • 2021-01544 — Sunshine Act Meeting; Notice of Meeting To Be Held With Less Than Seven Days Advance Notice
    Type:Notice
    Citation:86 FR 6646
    Reading Time:about a minute or two

    The Federal Deposit Insurance Corporation (FDIC) held a Board of Directors meeting via video conference on January 19, 2021. The meeting covered several topics, including discussions on the final rule regarding supervisory guidance, and proposed rules on various regulations affecting state savings associations and banks. The Board decided to hold the meeting with less than seven days' notice due to urgent business needs. The meeting was open to the public and was webcast online.

    Simple Explanation

    The FDIC, which helps make sure money in banks is safe, had a meeting online to talk about important rules. They had to do it quickly without much notice because of urgent reasons, and anyone could watch it online.

  • 2020-27955 — Collection of Civil Money Penalty Debt
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    Type:Rule
    Citation:86 FR 1740
    Reading Time:about 25 minutes

    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.

    Simple Explanation

    The FDIC, like a money manager, made a rule so they can pick up penalties that people owe more easily, using existing rules from another money manage—the Treasury. But it might be hard to understand, and they didn't say how they will make sure it's fair or how they will check if it works well.

  • 2025-02952 — Notice to All Interested Parties of Intent To Terminate Receivership
    Type:Notice
    Citation:90 FR 10500
    Reading Time:less than a minute

    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.

    Simple Explanation

    The FDIC is planning to stop watching over a bank because they've finished selling everything the bank owned. They'll pay back the people the bank owed money to one last time, and anyone who wants to say something about this plan has to write to them within 30 days.

  • 2024-29487 — Sunshine Act Meetings
    Type:Notice
    Citation:89 FR 101014
    Reading Time:about a minute or two

    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.

    Simple Explanation

    The people who make sure banks use money safely are having a meeting on the computer for everyone to watch. They'll talk about their money plans for next year and rules to stop people from cheating with money.

  • 2024-28456 — Notice of Termination of Receiverships
    Type:Notice
    Citation:89 FR 96652
    Reading Time:less than a minute

    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.

    Simple Explanation

    The FDIC finished its job of closing down a bank and has sold everything they could. Now, the FDIC has given another part of itself the task of doing any last bits of paperwork, and this job is all done.

  • 2024-29388 — Agency Information Collection Activities: Proposed Collection Renewal; Comment Request
    Type:Notice
    Citation:89 FR 101013
    Reading Time:about 3 minutes

    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.

    Simple Explanation

    The FDIC is asking people to share their thoughts through a survey to help them understand how much people know about deposit insurance, which is like a safety net for your money in the bank. They want to use this information to talk to people in a better way about keeping their money safe.

  • 2021-03456 — Assessments, Amendments To Address the Temporary Deposit Insurance Assessment Effects of the Optional Regulatory Capital Transitions for Implementing the Current Expected Credit Losses Methodology
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    Type:Rule
    Citation:86 FR 11391
    Reading Time:about 54 minutes

    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.

    Simple Explanation

    The FDIC is making a new rule to help big banks pay exactly the right amount for their deposit insurance, which is like a safety net for people's money in the bank. They are fixing how they count some numbers so the banks don't have to pay extra by mistake.

  • 2025-02310 — Notice to All Interested Parties of Intent To Terminate Receiverships
    Type:Notice
    Citation:90 FR 9080
    Reading Time:less than a minute

    The Federal Deposit Insurance Corporation (FDIC) has announced its intent to terminate the receiverships for certain institutions, as their asset liquidation has been completed. The FDIC plans to make a final dividend payment to authorized creditors, as allowed by the funds available. The notice specifies that these receiverships will end at least 30 days following the announcement date. Interested parties have until this deadline to submit written comments regarding these terminations.

    Simple Explanation

    The FDIC plans to close down certain banks they took over because they sold everything they could. People who are owed money have 30 days to speak up if they have something to say about this.

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