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FINANCIAL INSTITUTION LETTER | JULY 24, 2023 |
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ESTIMATED UNINSURED DEPOSITS REPORTING EXPECTATIONS
SUMMARY:
The FDIC observed that some insured depository institutions (IDIs) are not reporting estimated uninsured deposits in accordance with the instructions to the Consolidated Reports of Condition and Income (Call Report). For example, some institutions incorrectly reduced the amount reported to the extent that the uninsured deposits are collateralized by pledged assets; this is incorrect because in and of itself, the existence of collateral has no bearing on the portion of a deposit that is covered by federal deposit insurance. Additionally, some institutions incorrectly reduced the amount reported on Schedule RC-O by excluding intercompany deposit balances of subsidiaries.
STATEMENT OF APPLICABILITY:
This Financial Institution Letter does not impact institutions with less than $1 billion in total assets that do not report estimated uninsured deposits
DISTRIBUTION:
FDIC-Supervised Financial Institutions
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