Feedback on additional steps that could be taken to provide technical assistance to banks and savings institutions is being sought by the federal insurer of bank deposits, in an effort – the agency said Monday – to improve the effectiveness of the assistance it offers now.
In a Financial Institution Letter (FIL 29-2019), the Federal Deposit Insurance Corp. (FDIC) indicated the information it gathers could lead to support of effective management and operation of the institutions it supervises (through technical assistance) and “collaboration on safety and soundness and consumer compliance matters.”
The agency said it uses various methods of technical assistance to educate and assist insured depository institutions. The methods, the agency said, include videos, its “Directors’ Resource Center,” director and banker colleges, webinars and teleconferences, newsletters, and more.
FDIC also said the request for information aids in the agency’s support for bank risk management and compliance efforts and to reduce burden for institutions. “The FDIC encourages comments from all interested members of the public, including but not limited to, insured depository institutions, other financial institutions or companies, and other members of the financial services industry,” FDIC said in the letter. “Detailed and specific comments, including whether the commenter prefers one form of assistance or support over another, would be helpful to the FDIC.”
Comments will be due 60 days after the notice is published in the Federal Register.