The FDIC Board Today Approved Two Notices of Proposed Rulemaking

FDIC Subscriptions sent this bulletin at 03/20/2012 11:06 AM EDT

Press Release

The FDIC Board Today Approved Two Notices of Proposed Rulemaking

FOR IMMEDIATE RELEASE
March 20, 2012
Media Contact:
Michele Heller (202) 898-3679
Email: mheller@fdic.gov

 

The FDIC Board today approved two Notices of Proposed Rulemaking.

The first would implement section 201(c)(16) of the Dodd-Frank Act, which permits the FDIC as receiver for a failed SIFI to enforce and prevent termination of the contracts of the institution's subsidiaries or affiliates.

The second would make limited clarifications and definitional changes to the deposit insurance assessment system for insured depository institutions with more than $10 billion of assets. The proposed rule would fine tune the large-bank assessment system by amending the definitions of leveraged loans and subprime loans used to identify concentrations in higher-risk assets. The proposal would allow the FDIC to implement the changes without materially affecting the overall assessments that large institutions pay. There were 107 institutions with more than $10 billion in assets, as of Dec. 31, 2011.

The NPRs will be published in the Federal Register, both with a 60-day public comment period.


Attachments:
Notice of Proposed Rulemaking Regarding the Enforcement of Subsidiary and Affiliate Contracts by the FDIC as Receiver for a Covered Company - PDF (PDF Help)

Notice of Proposed Rulemaking on Assessments, Large Bank Pricing - PDF (PDF Help)

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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 7,359 banks and savings associations, and 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.

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