FDIC Seeks More Information on Deposit Data Reporting

The FDIC solicited comments on deposit data information that is not currently required to be submitted for the Federal Financial Institutions Examination Council's ("FFIEC") Consolidated Reports of Condition and Income ("Call Report") or for reports on uninsured deposits.

In a Request for Information ("RFI"), the FDIC prompted commenters to address characteristics that affect the stability and franchise value of different types of deposits. The FDIC asked whether more detailed or frequent reporting of those characteristics, or on different types of deposits, could (i) enhance offsite risk and liquidity monitoring; (ii) inform analysis of the benefits and costs associated with additional deposit insurance coverage for certain types of deposits; (iii) improve risk sensitivity of deposit insurance pricing; and (iv) provide analysts and the public with accurate and transparent data. The FDIC encouraged comments from "all interested parties, including but not limited to IDIs, depositors and financial consumers, businesses that utilize various types of payroll and payment accounts, consumer groups, researchers, trade associations, and other members of the financial services industry."

Comments are due within 60 days of publication in the Federal Register.

In a statement, FDIC Chair Martin J. Gruenberg said that "[w]hile banks are required to provide certain data on deposit liabilities on the Call Report, they do not report comprehensive data on the composition of insured and uninsured deposits nor the characteristics of those deposits." He said, "[a]s a result, the FDIC does not have historical data on banking industry trends for different types of insured and uninsured deposits, including how depositors would behave in times of stress."