News & Analysis as of

Proposed Rules Deposit Insurance

A&O Shearman

UK BoE consults on FSCS depositor protection and new resolution tool

A&O Shearman on

The UK Bank of England (BoE) has published its consultation paper CP4/25 which contains proposals for depositor protection and the new resolution tool proposed by the Bank Resolution (Recapitalisation) Bill. The consultation...more

Hogan Lovells

UK PRA consults on changes to FSCS protection limits and amendments required for Bank Resolution (Recapitalisation) Bill

Hogan Lovells on

Proposed increases in the deposit protection limit from £85,000 to £110,000 and in the temporary high balance limit from £1 million to £1.4 million would take effect from 1 December 2025. There would be a transitional period...more

Sheppard Mullin Richter & Hampton LLP

FDIC Withdraws Proposed Rule on Brokered Deposits

On March 3, the FDIC announced the withdrawal of its proposed rule on brokered deposits, citing concerns regarding potential disruptions to the financial sector. This move follows significant pushback from industry...more

Davis Wright Tremaine LLP

Is the FDIC's Proposed Rulemaking on Brokered Deposit Restrictions a Solution in Search of a Problem?

One of the most fundamental activities of an insured depository institution (IDI) is taking and safekeeping customer deposits. However, a recent proposed rulemaking by the Federal Deposit Insurance Corporation (FDIC) poses...more

Tucker Arensberg, P.C.

FDIC Seeks Public Input on a Proposed Assessment on Insured Banks to Raise More Than Fifteen Billion Dollars to Safeguard Deposits

Tucker Arensberg, P.C. on

The FDIC (Federal Deposit Insurance Corporation) is inviting public feedback on a proposed rule that aims to levy a special assessment on all banks with FDIC-insured deposits. Set to go into effect on January 1, 2024, the...more

Seward & Kissel LLP

Proposed FDIC Rule Would Impose Additional Deposit Insurance Disclosure Obligations on Banks and Non-Banks

Seward & Kissel LLP on

The Federal Deposit Insurance Corporation (“FDIC”) published for comment in December 2022 a notice of proposed rulemaking (12 CFR Part 328) (“Proposed Rule”) that would apply to all FDIC-insured institutions and impose new...more

Goodwin

FinCEN Proposes Rule for SARs Sharing Pilot Program

Goodwin on

In This Issue. The Financial Crimes Enforcement Network (FinCEN) issued a proposed rule about the establishment of a limited-duration pilot program for sharing suspicious activity reports (SARs); FinCEN published the final...more

Goodwin

Financial Services Weekly Roundup: SBA Provides Guidance On Borrower’s Good Faith Certification

Goodwin on

In This Issue. The Small Business Administration (SBA) provided guidance on a borrower’s good faith certification on the necessity of Paycheck Protection Program (PPP) loan requests, announcing a safe harbor regarding this...more

Ballard Spahr LLP

FDIC issues proposed rule for approval of ILC deposit insurance applications

Ballard Spahr LLP on

The FDIC has issued a proposed rule setting forth the conditions it would impose and the commitments it would require to approve a deposit insurance application from an industrial bank or industrial loan company...more

Nutter McClennen & Fish LLP

Fintech in Brief: FDIC Signals Pending Decisions on ILC Applications and Proposes New Rules for ILCs and their Parent Companies

On March 17, the FDIC released for public comment a proposed rule for industrial banks and industrial loan companies (together, “ILCs”) and their parent companies and signaled that it is considering two pending ILC...more

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