Federal Register: FDIC Proposes Better Process for Deposit Insurance Determinations

An FDIC proposal to streamline the process for making insurance determinations if a bank is placed into receivership was published in the Federal Register. Comments must be submitted by May 13, 2019.

As previously covered, the FDIC is requesting feedback on a proposal to make revisions to Part 370 (Recordkeeping for Timely Deposit Insurance Determination) before the compliance date on April 1, 2020. According to the FDIC, the proposal (i) clarifies the rule's mandates, (ii) better aligns the "burdens of the rule with its benefits" and (iii) makes technical corrections.