The Clearing House Association (TCH) joined the ABA and CBA in filing a comment letter on the FDIC’s deposit insurance determination ANPR originally issued in April. The ANPR asks whether the FDIC should require banks with a large number of deposit accounts (covered banks) to (i) enhance their recordkeeping to provide the FDIC with better information about each depositor’s ownership interest in different accounts and (ii) be able to calculate insured and uninsured amounts for each depositor at the end of each business day. As a general matter, the letter asserts that covered banks will ultimately be prepared to meet the FDIC’s policy objectives as set forth in the ANPR provided the FDIC (i) allows sufficient development and implementation time, (ii) provides details of how insurance determination computations are to be performed, and (iii) works closely with each covered bank throughout the process.
You Might Also Be Interested In...
AML, Bank Secrecy Act and Sanctions BPI Submits Comment Letter to FinCEN Regarding AML Program Effectiveness
Bank Governance BPI Offers Recommendations to NY Financial Services Regulator on a Re-Proposed Regulation on Disclosure of Confidential Supervisory Information
Cybersecurity BPI Files Comment Letter with U.K. Banking Authorities in Response to Operational Resilience Proposals
Regulatory Reporting and Accounting BPI Submits Comment Letter to Banking Agencies on Revisions to Call Report
Resolution & Recovery Planning Putting “Too Big to Fail” to Rest: Evidence from Market Behavior in the COVID-19 Pandemic
Consumer Affairs BPI Joins Joint Coalition Comment Letter Responding to CFPB NPR on General Qualified Mortgage Definition
More Posts by This Author
Bank Capital and Stress Testing GSIB Method 2 Fixed Coefficients Must Be Adjusted for Economic Growth
AML, Bank Secrecy Act and Sanctions BPI Endorses Legislative Compromise to Reform Anti-Money Laundering Framework and End Anonymous Shell Companies
Bank Activities and Structure BPI Asks OCC to Furnish Data Used to Support Rushed Fair Access Proposal in FOIA Request