Deposit Insurance

News & Analysis as of

To Deposit or Not to Deposit: a Question for Fintech Charters

The fintech industry has justifiably greeted the OCC’s announcement of a national fintech charter with optimism. But one area where we have seen significant confusion is the possibility of the fintech charter being granted...more

Starting a New Bank

On November 29, 2016, the FDIC, as part of its Community Banking Initiative, held an outreach meeting in Atlanta. While the FDIC has indicated that it will publish a handbook regarding applications for deposit insurance in...more

House Subcommittee Supports Revised Treatment of Reciprocal Deposits

On Tuesday, a bipartisan group of legislators expressed their support for a bill (H.R. 4116) that would attempt to codify and expand a measure regarding reciprocal deposits that was included in FDIC’s final rule on small bank...more

Canada Deposit Insurance Corporation Looks to Modernize Deposit Insurance Information By-law

On September 12, 2016, the Canada Deposit Insurance Corporation (CDIC) published for comment a consultation paper (Consultation Paper) proposing amendments to modernize CDIC’s Deposit Insurance Information By-law (By-law),...more

Deposit Insurance Review: Improving the Current Framework

On September 16, 2016, Canada’s Department of Finance (Finance Canada) published for comment the Deposit Insurance Review (Consultation Paper). The Consultation Paper ensues from the Budget 2014 announcement of the launch of...more

Orrick's Financial Industry Week in Review

Financial Industry Developments - OCC Discusses Marketplace Lending - On September 13, 2016, Comptroller of the Currency Thomas J. Curry discussed marketplace lending's risks and associated policy questions. He...more

UK Financial Regulatory Developments - June 2016 #18

EP publishes EDIS report - EP has published a working document on the European Deposit Insurance Scheme (EDIS). The report looks at interlinkages between the EDIS proposal and other legislation and existing structures,...more

UK Financial Regulatory Developments - June 2016 #1

Insurance Europe reiterates PRIIPSs concerns - Insurance Europe has published a paper articulating its detailed concerns over the RTS produced by the European Supervisory Authorities in support of the Key Information...more

Amendments to Canada’s Bank Restructuring Legislation: Bail-In and Financial Contract Safe Harbours

The Government of Canada recently introduced the Budget Implementation Act, 2016 No. 1 (Bill C-15) to implement certain initiatives announced in the March 2016 federal budget, including amendments to the Canada Deposit...more

US Federal Deposit Insurance Corporation Adopts Final Rule to Amend How Small Banks are Assessed for Deposit Insurance

The FDIC approved a final rule that amends how banks with less than $10 billion in assets that have been insured for a minimum of five years are assessed for deposit insurance. The rule updates the data and revises the...more

Financial Services Weekly News - May 2016

Regulatory Developments - CFPB Responds to Industry Concerns on Know Before You Owe Rule - On April 28, the CFPB issued a letter to banking and industry groups in response to an inquiry by the Mortgage Bankers...more

UK Financial Regulatory Developments - April 2016 #25

ECB opines on establishing EDIS - ECB has issued an opinion in relation to the proposal for a Regulation to establish a European Deposit Insurance Scheme (EDIS). ECB recognises that an EDIS is the necessary third pillar...more

Financial Services Weekly News - April 2016 #4

Regulatory Developments - Federal Banking Regulators Propose Net Stable Funding (Liquidity) Ratio - The Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation...more

Orrick's Financial Industry Week in Review

SEC Adopts Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants - On April 15, 2016, the Securities and Exchange Commission adopted final rules modifying regulations "for...more

ECB Offers Opinion on Proposed Regulation to Establish a European Deposit Insurance Scheme

On April 20, 2016, the European Central Bank (ECB) published an opinion on a proposal for a regulation amending Regulation (EU) No. 8.6/2014 in order to establish a European Deposit Insurance Scheme (EDIS)....more

Financial Services & Products Advisory: FDIC Adopts Final Rule to Amend How Small Banks are Assessed for Deposit Insurance

The Federal Deposit Insurance Corporation (FDIC) today adopted a final rule that amends how established small banks are assessed for deposit insurance. The final rule, which affects banks with less than $10 billion in assets...more

Nutter Bank Report, March 2016

The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group. - Headlines 1. FDIC Issues Final Rule to Assess Large Banks a Deposit Insurance Surcharge 2. Regulators Clarify...more

US Federal Deposit Insurance Corporation Approves Rule to Increase Deposit Insurance Fund to Required Minimum Level

The Federal Deposit Insurance Corporation adopted a final rule to increase the Deposit Insurance Fund to the statutorily required minimum level of 1.35 percent. Subject to certain minor changes, the rule largely mirrors the...more

Financial Regulatory Developments Focus - March 2016 #3

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

Ontario Minister of Finance Accepts Recommendations to Amend Credit Union Legislation

Ontario’s Minister of Finance recently announced that the Ontario government will accept the 15 recommendations set out in a legislative review report (Report) to amend Ontario’s credit union legislation, The Credit Unions...more

FDIC Board Adopts Final Rule to Increase Deposit Insurance Fund to Statutorily Required Level

On March 15, the Federal Deposit Insurance Corporation approved a final rule that increased the minimum level of the Deposit Insurance Fund to the minimum level required by the Dodd-Frank Wall Street Reform and Consumer...more

Germany’s Maple Bank Indemnification: Implications for Creditors

On 12 February 2016, the German Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, or BaFin) declared Maple Bank GmbH (“Maple”) as an indemnification case, meaning that the German deposit...more

Nutter Bank Report - January 2016

The Nutter Bank Report is a monthly publication of the firm's Banking and Financial Services Group. Headlines - 1. CFTC Issues Relief from Swap Clearing Requirements to Small Holding Companies 2. Federal...more

FDIC Seeks Comment on Revised Deposit Insurance Assessment Rule

On January 21, the Federal Deposit Insurance Corporation (FDIC) announced that it was seeking comment on a revised proposed rule that would amend the way small banks are assessed for deposit insurance. The proposed rule would...more

Financial Regulatory Developments Focus - February 2016

In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more

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