FDIC Proposed Rule on Insured Deposits at Foreign Branches of U.S. Banks

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On February 12, the FDIC approved a notice of proposed rulemaking to clarify that deposits in foreign branches of U.S. banks are not FDIC-insured but they may be deposits for the national depositor preference statute enacted in 1993. Comments must be received within 60 days after publication in the Federal Register. FDIC Release. Proposed Rule.

Topics:  FDIC, Foreign Branches of U.S. Banks

Published In: Finance & Banking Updates, Insurance Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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