Recordkeeping for Timely Deposit Insurance Determination
The FDIC is amending its rule entitled “Recordkeeping for Timely Deposit Insurance Determination” to clarify the rule’s requirements, better align theburdens of the rule with the benefits, and make technical corrections. The policy objective of the final rule is to reduce compliance burdens for insured depository institutions (IDIs) covered by the FDIC’s rule entitled “Recordkeeping for Timely Deposit Insurance Determination”\ (part 370 or the rule) while maintaining its benefits and continuing to support the FDIC’s ability to promptly determine deposit insurance coverage in the event such an IDI fails.
|Date proposed:||April 2, 2019|
|Comments due date:||Oct. 1, 2019|
|Final rule effective date:||
|Rule compliance date:|
|Related Reg Report item(s):||Recordkeeping to support timely deposit insurance determinations would be less burdensome under proposal, FDIC says|