The FDIC board on July 30 agreed to request information on deposit data that currently is not reported in the Federal Financial Institutions Examination Council’s Call Reports—including data on uninsured deposits.
“Through this RFI, the FDIC is seeking information on characteristics that affect the stability and franchise value of different types of deposits to further evaluate whether and to what extent certain types of deposits may behave differently from each other, particularly during periods of economic or financial stress,” the agency said, in explaining its desire for the data.
The FDIC said that the March 2023 bank failures and subsequent events renewed a focus on deposit insurance coverage, funding concentrations and the reliance of uninsured deposits by some banks. However, only banks with $1 billion or more in total consolidated assets report the estimated amount of uninsured deposits on their call reports each quarter.
The FDIC said that the agency recognizes that different types of uninsured deposits may not behave the same way. For instance, the agency said, uninsured deposits that are secured by collateral generally do not pose the same risk of loss as other types of uninsured deposits, although the presence of collateral may not fully mitigate run risk. In addition, intercompany depositors also may have different incentives than unaffiliated depositors with respect to withdrawing funds.
The Request for Information seeks comments on several issues, including:
- How banks measure the stability of different types of uninsured deposits;
- The types of deposits for which banks collect data internally;
- Whether the collection of additional data on deposits would provide a better understanding of depositor behavior;
- What data would be useful if Congress decided to pursue increased deposit insurance coverage.
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