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FINANCIAL INSTITUTION LETTER | NOVEMBER 18, 2024 |
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FDIC Extends Comment Period for Proposed Rule on Custodial Deposit Accounts with Transactional Features and Prompt Payment of Deposit Insurance to Depositors
SUMMARY:
The Federal Deposit Insurance Corporation (FDIC) is extending the comment period for the proposed rule on Custodial Deposit Accounts with Transactional Features and Prompt Payment of Deposit Insurance to Depositors from December 2, 2024 to January 16, 2025.
HIGHLIGHTS:
To ensure that interested respondents have sufficient time to consider and prepare thoughtful input regarding the proposed rule on recordkeeping for custodial accounts, the FDIC is extending the end of the comment period of the proposal by 45 days. Comments must be received by the FDIC on or before January 16, 2025.
STATEMENT OF APPLICABILITY:
The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions.
DISTRIBUTION:
FDIC-insured financial institutions
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