Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation’s banking system.
The FDIC insures deposits at the nation’s banks and savings associations, 6,182 as of December 31, 2015. It promotes the safety and
soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no
federal tax dollars—insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC’s Public Information Center
(877-275-3342 or 703-562-2200). PR-41-2016
May 20, 2016 Media contact:
Barbara Hagenbaugh
(202) 898-6993
bhagenbaugh@fdic.gov
FDIC Extends Comment Period on Deposit Account Recordkeeping Proposal
The Federal Deposit Insurance Corporation (FDIC) is extending the comment period for proposed
recordkeeping requirements for FDIC-insured institutions with a large number of deposit accounts.
The proposed recordkeeping requirements, which are designed to facilitate rapid payment of insured
deposits to customers if large institutions were to fail, was published in the Federal Register on
February 26 with a 90-day comment period. All comments must now be received on or before June
25.
The 30-day extension will allow interested parties additional time to consider the proposal and the
issues and questions posed for comment, particularly those related to the estimated cost of
compliance. To assist commenters, the FDIC has published a report prepared for the agency on the
estimated cost of compliance.
The proposed rule would apply to insured depository institutions with at least 2 million deposit
accounts. The FDIC is not proposing or considering making these requirements applicable to
smaller institutions, including community banks.
Attachment: Extension Notice - PDF (PDF Help)
The FDIC insures deposits at the nation’s banks and savings associations, 6,182 as of December 31, 2015. It promotes the safety and
soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no
federal tax dollars—insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC’s Public Information Center
(877-275-3342 or 703-562-2200). PR-41-2016
May 20, 2016 Media contact:
Barbara Hagenbaugh
(202) 898-6993
bhagenbaugh@fdic.gov
FDIC Extends Comment Period on Deposit Account Recordkeeping Proposal
The Federal Deposit Insurance Corporation (FDIC) is extending the comment period for proposed
recordkeeping requirements for FDIC-insured institutions with a large number of deposit accounts.
The proposed recordkeeping requirements, which are designed to facilitate rapid payment of insured
deposits to customers if large institutions were to fail, was published in the Federal Register on
February 26 with a 90-day comment period. All comments must now be received on or before June
25.
The 30-day extension will allow interested parties additional time to consider the proposal and the
issues and questions posed for comment, particularly those related to the estimated cost of
compliance. To assist commenters, the FDIC has published a report prepared for the agency on the
estimated cost of compliance.
The proposed rule would apply to insured depository institutions with at least 2 million deposit
accounts. The FDIC is not proposing or considering making these requirements applicable to
smaller institutions, including community banks.
Attachment: Extension Notice - PDF (PDF Help)
6714-01-P
FEDERAL DEPOSIT INSURANCE CORPORATION
RECORDKEEPING FOR TIMELY DEPOSIT INSURANCE DETERMINATION
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Proposed rule; extension of comment period.
SUMMARY: On February 26, 2016, the FDIC published in the Federal Register a notice of
proposed rulemaking entitled “Recordkeeping for Timely Deposit Insurance Determination” and
solicited public comment. To allow the public more time to consider this proposed rulemaking
and the issues and questions posed for comment, particularly those related to the estimated cost
of compliance, the FDIC has determined that an extension of the comment period for an
additional 30-day period ending June 25, 2016, is appropriate.
DATES: Comments must be received on or before June 25, 2016.
ADDRESSES: You may submit comments by any of the following methods:
• Agency Web Site: http://www.fdic.gov/regulations/laws/federal. Follow the instructions for
submitting comments on the Agency Web Site.
• Email: Comments@FDIC.gov. Include “Recordkeeping for Timely Deposit Insurance
Determination” in the subject line of the message.
• Mail: Robert E. Feldman, Executive Secretary, Attention: Comments, Federal Deposit
Insurance Corporation, 550 17th Street N.W., Washington, DC 20429
• Hand Delivery/Courier: Guard station at the rear of the 550 17th Street Building (located on
F Street) on business days between 7 a.m. and 5 p.m. (EST).
• Federal eRulemaking Portal: http://www.regulations.gov. Follow the instructions for
submitting comments.
FEDERAL DEPOSIT INSURANCE CORPORATION
RECORDKEEPING FOR TIMELY DEPOSIT INSURANCE DETERMINATION
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Proposed rule; extension of comment period.
SUMMARY: On February 26, 2016, the FDIC published in the Federal Register a notice of
proposed rulemaking entitled “Recordkeeping for Timely Deposit Insurance Determination” and
solicited public comment. To allow the public more time to consider this proposed rulemaking
and the issues and questions posed for comment, particularly those related to the estimated cost
of compliance, the FDIC has determined that an extension of the comment period for an
additional 30-day period ending June 25, 2016, is appropriate.
DATES: Comments must be received on or before June 25, 2016.
ADDRESSES: You may submit comments by any of the following methods:
• Agency Web Site: http://www.fdic.gov/regulations/laws/federal. Follow the instructions for
submitting comments on the Agency Web Site.
• Email: Comments@FDIC.gov. Include “Recordkeeping for Timely Deposit Insurance
Determination” in the subject line of the message.
• Mail: Robert E. Feldman, Executive Secretary, Attention: Comments, Federal Deposit
Insurance Corporation, 550 17th Street N.W., Washington, DC 20429
• Hand Delivery/Courier: Guard station at the rear of the 550 17th Street Building (located on
F Street) on business days between 7 a.m. and 5 p.m. (EST).
• Federal eRulemaking Portal: http://www.regulations.gov. Follow the instructions for
submitting comments.