|Title:||Simplification of Deposit Insurance Rules|
|Subject:||Deposit insurance; trust accounts|
The Federal Deposit Insurance Corporation is seeking comment on proposed amendments to its regulations governing deposit insurance coverage. The proposed rule would simplify the deposit insurance regulations by establishing a “trust accounts” category that would provide for coverage of deposits of both revocable trusts and irrevocable trusts, and provide consistent deposit insurance treatment for all mortgage servicing account balances held to satisfy principal and interest obligations to a lender.
|Date proposed:||July 20, 2021|
|Comments due date:||Oct. 4, 2021|
|Rule compliance date:|
|Related Reg Report item(s):||Proposal aims to simplify rules for trust account deposit insurance coverage|