News & Analysis as of September 13, 2024

Financial Institutions

+ Follow

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships. less -

FDIC Approves Final Rule to Update Its Section 19 Regulations – Insured Depository Institutions Have Until October 1, 2024 to...

Littler on 9/9/2024

On July 30, 2024, the Federal Deposit Insurance Corporation (“FDIC”) Board of Directors approved a final rule that updates the FDIC’s regulations concerning Section 19 of the Federal Deposit Insurance Act, 12 U.S.C.§ 1829...more

FDIC Proposes Rule to Revise Brokered Deposit Regulations and Issues Request for Information on Deposit Data

Alston & Bird on 8/22/2024

In a proposed rule and information request, the Federal Deposit Insurance Corporation expressed its concerns with the current brokered deposit restrictions and reporting requirements. Our Financial Services Team zeroes in on...more

FDIC Revises Section 19 Regulations for Institutions Hiring Persons Convicted of Certain Crimes

Jackson Lewis P.C. on 8/22/2024

The Federal Deposit Insurance Corporation (FDIC) has revised its regulations on Section 19 of the Federal Deposit Insurance Act to conform with the previously enacted Fair Hiring in Banking Act (FHBA). The FHBA paved the way...more

FDIC Proposes Amendments to Its Change in Bank Control Act Regulations

Latham & Watkins LLP on 8/9/2024

The proposal would establish stricter oversight of certain transactions and responds to concerns that large asset managers may be exerting influence on FDIC-supervised institutions. On July 30, 2024, the Board of...more

FDIC Proposes Overhaul to Brokered Deposit Classification Rules; Significant Impact to Banking as a Service (BaaS) Industry

Goodwin on 8/5/2024

On July 30, 2024, the Federal Deposit Insurance Corporation (FDIC) issued a proposed rule that would make significant revisions to the FDIC’s regulations implementing the provisions of Section 29 of the Federal Deposit...more

Florida enacts new requirements for payment transaction classification

Orrick, Herrington & Sutcliffe LLP on 5/14/2024

On May 2, the Governor of Florida signed into law HB 939 (the “Act”) which, among other things, will expand the definition of “depository institution” and amend the requirements for information returns relating to...more

Legal Issues, Problems, and Unanswered Questions Regarding a State’s Ability and Potential Departure from the Depository...

Lewis Roca on 3/26/2024

In 1980, Congress passed Public Law 96-221, called the Depository Institutions Deregulation and Monetary Control Act (“DIDMCA”), which, in part, allowed federally insured state banks, state credit unions, and state savings...more

FAQs About US Bank Failure

Goodwin on 1/10/2024

Deposit Insurance - Are the deposits at my bank FDIC-insured? Deposits held at FDIC-insured depository institutions are insured up to $250,000 per depositor for deposits held in the same “right and capacity.”...more

FDIC releases semiannual update on Restoration Plan

Orrick, Herrington & Sutcliffe LLP on 12/15/2023

On December 7, the FDIC released its semiannual update on the Restoration Plan for the agency’s Deposit Insurance Fund (DIF). The Federal Deposit Insurance Act (the FDI Act) requires that the FDIC board adopt a Restoration...more

Tying deposit insurance reform to reform of the tying of deposits

White & Case LLP on 10/5/2023

On March 10, 2023 the California Department of Financial Protection and Innovation ("CDFPI") closed Silicon Valley Bank ("SVB"), a California chartered, non-member bank. The CDFPI placed SVB into receivership and appointed...more

FDIC Releases SOD Data

Cadwalader, Wickersham & Taft LLP on 10/2/2023

Recently, the Federal Deposit Insurance Corporation (“FDIC”) released its annual Summary of Deposits (“SOD”) data, as of June 2023. The annual SOD data is the result of the FDIC’s annual survey of branch office deposits...more

Eventful Horizons September 2023 - Same Faces, Different Places

Cadwalader, Wickersham & Taft LLP on 9/29/2023

Following the disruption in the market in March of this year, with the FDIC seizing three major middle-market lenders one of the questions on many people’s minds was – where were our bankers, colleagues, clients and friends...more

FDIC Issues Bank Failure Post Mortem Report

Cadwalader, Wickersham & Taft LLP on 9/19/2023

Recently, the Federal Deposit Insurance Corporation (“FDIC”) issued a report from its Chief Risk Officer entitled FDIC’s Supervision of First Republic Bank. The FDIC was First Republic Bank’s primary federal banking agency,...more

Acting Comptroller of the Currency Michael J. Hsu Issues Statements Supporting Insured Depository Institution Plan Rule at FDIC...

Troutman Pepper on 9/5/2023

On August 29, at a Board Meeting for the Federal Deposit Insurance Corporation (FDIC), Comptroller of the Currency Michael J. Hsu issued a statement supporting the insured depository institution (IDI) Resolution Plan Rule,...more

FFForEver August 2023 - Lender Intel: A First Glance at Q2 Call Reports

Cadwalader, Wickersham & Taft LLP on 8/14/2023

The FDIC set up the SVB bridge bank on March 26, which meant that Q1 bank earnings reports and industry data largely reflected a business environment that had ceased to exist by the time the numbers hit the tape. With the Q2...more

Federal Agencies Issue Joint Guidance on Contingency Planning for Liquidity Risks

Troutman Pepper on 8/1/2023

On July 28, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and the National Credit Union Administration (NCUA)...more

FDIC Issues Reminder to Banks on Reporting of Uninsured Deposits

Cadwalader, Wickersham & Taft LLP on 7/31/2023

The Federal Deposit Insurance Corporation (“FDIC”) issued a Financial Institution Letter (“FIL”) earlier this week regarding banks’ errors in reporting estimated uninsured deposits....more

Increased Scrutiny of Uninsured Deposits Continues: FDIC Reminds IDIs of Uninsured Deposit Reporting Obligations

Morgan Lewis - All Things FinReg on 7/31/2023

The Federal Deposit Insurance Corporation (FDIC) continued the focus shown over the last several months, and especially since the March 2023 failure of Silicon Valley Bank (SVB) and associated events, by the federal banking...more

What Should Mid-Market Companies Do To Protect Deposits During the Current Bank Liquidity Crunch?

Davidoff Hutcher & Citron LLP on 6/2/2023

Breaking Up Is Hard To Do - In the wake of the collapse of Silicon Valley Bank and Signature Bank, every chief executive officer of a mid-market privately held company had the same two questions this morning: what banks hold...more

FDIC Chair Speaks on Importance of Financial Inclusion and Safety of Deposit Insurance

Cadwalader, Wickersham & Taft LLP on 5/26/2023

Federal Deposit Insurance Corporation (“FDIC”) Chair Martin Gruenberg gave remarks to the Cities for Financial Empowerment Fund 2023 Bank On National Conference recently in which he said that the FDIC “shares the Bank On...more

FDIC Proposes Special Deposit Insurance Assessment After Systemic Risk Exception

Cadwalader, Wickersham & Taft LLP on 5/12/2023

The Federal Deposit Insurance Corporation (“FDIC”) Board voted (3-2) to propose a special assessment to recoup the expected $15.8 billion cost to the Deposit Insurance Fund “(DIF”) in the wake of invocation of the special...more

Cozen Currents: The State of the Economy is [FILL IN THE BLANK]

Cozen O'Connor on 5/10/2023

The Cozen Lens- •The state of the economy is unclear, with conflicting indicators of where it is heading. But this uncertainty isn't stopping Washington, DC from defining the economy for partisan gains. •With regional banks...more

TL;DR: The Feds on SVB and Deposit Insurance Reform

Miller Nash LLP on 5/9/2023

The Federal Reserve recently published a whopping 118-page review of the failure of Silicon Valley Bank (SVB), and three days later the FDIC published a 75-page report outlining several ideas to reform our deposit insurance...more

The Federal Reserve and FDIC’s Reports on the Silicon Valley Bank and Signature Bank Failures – Lessons to be Learned

Wyrick Robbins Yates & Ponton LLP on 5/9/2023

On April 28, 2023, the Board of Governors of the Federal Reserve System (“Federal Reserve”) and the Federal Deposit Insurance Corporation (“FDIC”) each released reports detailing the respective agency’s supervision history...more

FDIC Releases Semiannual Update on the Deposit Insurance Fund Restoration Plan

Cadwalader, Wickersham & Taft LLP on 4/20/2023

The Federal Deposit Insurance Corporation (“FDIC”) Board held an open meeting on Tuesday to receive the semiannual update on the Deposit Insurance Fund (“DIF”) Restoration Plan. As we previously wrote last year, the FDIC...more

110 Results

View per page

Page: of 5

Federal Deposit Insurance Corporation › Depository Institutions › Financial Institutions

"My best business intelligence, in one easy email…"