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FINANCIAL INSTITUTION LETTER | NOVEMBER 30, 2023 |
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FDIC Extends Comment Period for Proposed Addition of Appendix C to Part 364 of the FDIC’s Rules and Regulations
SUMMARY:
On October 11, 2023, the Federal Deposit Insurance Corporation (FDIC) published in the Federal Register a proposal to issue Guidelines as Appendix C to FDIC’s standards for safety and soundness regulations in Part 364 and make conforming amendments to parts 308 and 364 of its regulations. These Guidelines would apply to all insured state nonmember banks, state-licensed insured branches of foreign banks, and insured state savings associations that are subject to Section 39 of the Federal Deposit Insurance Act (FDI Act), with total consolidated assets of $10 billion or more on or after the effective date of the final Guidelines. The notice of proposed rulemaking stated that the comment period would close on December 11, 2023. The FDIC has determined that an extension of the comment period until February 9, 2024, is appropriate.
STATEMENT OF APPLICABILITY:
The contents of, and material referenced in, this FIL does not apply to FDIC-insured or FDIC-supervised financial institutions with less than $10 billion in total consolidated assets.
DISTRIBUTION:
FDIC-Supervised Financial Institutions
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