FDIC Sets Comment Deadline on Proposed Governance and Risk Management Guidelines for IDIs
The FDIC set a comment deadline of December 11, 2023 for proposed governance and risk management guidelines that would apply to all state insured depository institutions ("IDIs") with assets of $10 billion. The comment deadline was published in the Federal Register.
The applicable IDIs include insured state nonmember banks, state-licensed branches of foreign banks and insured state savings associations with assets. As previously covered, the proposal would amend FDIC Rules 364.101 ("Standards for safety and soundness") and 308.302 ("Determination and notification of failure to meet a safety and soundness standard and request for compliance plan") in order to include corporate governance and risk management guidelines.
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