Posts

Showing posts with the label FDIC

News Release From FDIC | U.S., European Banking Union, and UK Officials Meet for Planned Coordination Exercise on Cross-Border Resolution Planning

FOR IMMEDIATE RELEASE April 9, 2019 WASHINGTON — Senior officials representing resolution, regulatory and supervisory authorities, central banks, and finance ministries in the United States, the United Kingdom, and the European Banking Union will hold a meeting on Saturday, April 13, as part of a series of planned exercises to enhance understanding of one another's resolution regimes for global systemically important banks and strengthen coordination on cross-border resolution. This meeting builds upon two prior exercises in 2014 and 2016. The exercise is planned to coincide with the annual international meetings in Washington sponsored by the World Bank and International Monetary Fund. The Federal Deposit Insurance Corporation will host the exercise. Other senior officials from the United States are expected from the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Curr

Press Release | FDIC Announces New Members for the Advisory Committee on Community Banking

4-5 minutes FOR IMMEDIATE RELEASE March 28, 2019 The Federal Deposit Insurance Corporation (FDIC) has announced the selection of six new members to its Advisory Committee on Community Banking, which has been providing advice and recommendations to the FDIC on a broad range of community bank policy and regulatory matters since it was established in 2009. The Advisory Committee members represent a cross-section of community bankers from around the country. "The Advisory Committee provides key information and input to the FDIC on issues facing community banks," said FDIC Chairman Jelena McWilliams. "We are fortunate to have such talented and highly respected professionals as a resource. I look forward to working with the Advisory Committee members." The Advisory Committee on Community Banking discusses and provides input to the FDIC on a wide variety of topics, including current examination policies and procedures

FDIC I Press Release: FDIC Issues Final Rule on Reciprocal Deposits and Seeks Comments on Brokered Deposits and Interest Rate Restrictions

FOR IMMEDIATE RELEASE December 19, 2018 The Federal Deposit Insurance Corporation (FDIC) took two actions related to brokered deposits. The FDIC adopted a final rule related to the treatment of reciprocal deposits, and it also issued an advance notice of proposed rulemaking (ANPR) related to brokered deposits and the interest rate restrictions. The final rule implements Section 202 of the Economic Growth, Regulatory Relief, and Consumer Protection Act to exempt certain reciprocal deposits from being considered as brokered deposits for certain insured institutions. The final rule also makes conforming amendments to the FDIC's regulations governing deposit insurance assessments. Under the reciprocal deposit exception addressed in the final rule, well-capitalized and well-rated institutions are not required to treat reciprocal deposits as brokered deposits up to the lesser of 20 percent of their total liabilities or $5 billion. Institutions that are not both well capitalized

FDIC I Press Releases - PR-95-2018 12/6/2018

FDIC Announces Actions to Promote a More Transparent, Streamlined, and Accountable Deposit Insurance Application Process December 6, 2018 The Federal Deposit Insurance Corporation (FDIC) is announcing multiple initiatives and resources related to the deposit insurance application process for organizers of new, or de novo , banks, and to promote a more transparent, streamlined and accountable process for all applications submitted to the agency. "A pipeline of new banks is critical to the long-term health of the industry and communities across the country. The application process should not be overly burdensome and should not deter prospective banks from applying. The FDIC wants to see more de novo banks, and we are hard at work to make this a reality," said FDIC Chairman Jelena McWilliams. As part of the initiatives, the FDIC is seeking comment from interested parties on all aspects of the deposit insurance application process. Through a Request for Information (RFI

FDIC Press Release: FDIC's Advisory Committee on Systemic Resolution to Meet on December 6, 2018

FOR IMMEDIATE RELEASE December 4, 2018 The Federal Deposit Insurance Corporation's Advisory Committee on Systemic Resolution is scheduled to meet Thursday, December 6 th . FDIC Chairman Jelena McWilliams, will begin the meeting at 9:00 a.m. with opening remarks. After the chairman's statement, the committee members will discuss and receive updates on Title I: Making Bankruptcy Work; Title II: Orderly Liquidation; and Cross-Border Resolution Implementation. The FDIC created the advisory committee in 2011 to provide advice and recommendations on a broad range of issues relevant to the failure and resolution of a systemically important financial company. More information about the committee, including a list of its members, can be found at http://www.fdic.gov/about/srac/ . The event is open to the public and will be Webcast live. ### Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banki

FDIC I Joint Press Release: Agencies Propose Community Bank Leverage Ratio for Qualifying Community Banking Organizations

Joint Release Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For Immediate Release November 21, 2018 Three federal banking agencies on Wednesday invited public comment on a proposal that would simplify regulatory capital requirements for qualifying community banking organizations, as required by the Economic Growth, Regulatory Relief, and Consumer Protection Act. The proposal would provide regulatory burden relief to qualifying community banking organizations by giving them an option to calculate a simple leverage ratio, rather than multiple measures of capital adequacy. Under the proposal, a community banking organization would be eligible to elect the community bank leverage ratio framework if it has less than $10 billion in total consolidated assets, limited amounts of certain assets and off-balance sheet exposures, and a community bank leverage ratio greater than

FDIC Issues List of Banks Examined for CRA Compliance: FDIC I Press Release

fdic.gov FOR IMMEDIATE RELEASE November 5, 2018 The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in August 2018. The CRA is a 1977 law intended to encourage insured banks and thrifts to meet local credit needs, including those of low- and moderate-income neighborhoods, consistent with safe and sound operations. As part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), Congress mandated the public disclosure of an evaluation and rating for each bank or thrift that undergoes a CRA examination on or after July 1, 1990. A consolidated list of all state nonmember banks whose evaluations have been made publicly available since July 1, 1990, including the rating for each bank, can be obtained at www.fdic.gov/ or from the FDIC'

FDIC Press Release I Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Michael

fdic.gov Joint Release Board of Governors of the Federal Reserve System Conference of State Bank Supervisors Federal Deposit Insurance Corporation National Credit Union Administration Office of the Comptroller of the Currency For Immediate Release October 10, 2018 The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators recognize the serious impact of Hurricane Michael on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions operating in the affected areas to meet the financial services needs of their communities. A complete list of the affected disaster areas can be found at www.fema.gov . Lending: Fi

FDIC: Press Releases - PR-67-2018 10/1/2018: FDIC Requests Information on Improving Communication With Banks and Other Stakeholders.

fdic.gov FOR IMMEDIATE RELEASE October 1, 2018 The Federal Deposit Insurance Corporation (FDIC) today announced that it is seeking comments on how the agency can maximize efficiency and minimize burden when communicating information to insured depository institutions, consumers, and others, about laws, rules, and related matters. The request is part of Chairman Jelena McWilliams' initiative to enhance transparency and accountability at the agency by improving communication between the FDIC, the public and the banking industry. "Providing information to depositors, consumers, bankers, and other stakeholders is vital for them to better understand the agency's policies, procedures and regulations. At time the amount of information disseminated can create burdensome challenges for insured depository institutions, especially community banks. To that end, we are seeking input on how the FDIC can improve the way it communicates,&quo

FDIC Press Release: FDIC Makes Public August Enforcement Actions.

fdic.gov No Administrative Hearings Scheduled for October 2018 FOR IMMEDIATE RELEASE September 28, 2018 The Federal Deposit Insurance Corporation (FDIC) today released a list of orders of administrative enforcement actions taken against banks and individuals in August. There are no administrative hearings scheduled for October 2018. The FDIC issued a total of 17 orders, including one issued in July, and one notice. The administrative enforcement actions in those orders consisted of five Section 19 orders; four removal and prohibition orders; two civil money penalties; six terminations of consent orders; three terminations of orders for restitution; and one notice. To view orders, adjudicated decisions and notices online, please visit the FDIC's Web page by clicking the link below. August 2018 Enforcement Decisions and Orders ### Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation

Weekly National rates and rate caps update I FDIC.

On May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the "national rate" as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC. The national rates and rate caps for various deposit maturities and sizes are provided below. For more information. see Financial Institution Letter FIL-25-2009 Rates updated September 17, 2018 Non-Jumbo Deposits (< $100,000) Deposit Products National Rate 1 Rate Cap 2 Savings 0.08 0.83 Interest Checking 0.05 0.80 Money Market 0.14 0.89 1 month CD 0.10 0.85 3 month CD 0.16 0.91 6 month CD 0.26 1.01 12 month CD 0.45 1.20 24 month CD 0.64 1.39 36 month CD 0.79 1.54 48 month CD 0.90 1.65 60 month CD 1.11 1.86 Jumbo Deposits

Weekly National Rates and Rates Caps Update I FDIC

Rates updated September 4, 2018 Non-Jumbo Deposits (< $100,000) Deposit Products National Rate 1 Rate Cap 2 Savings 0.08 0.83 Interest Checking 0.05 0.80 Money Market 0.13 0.88 1 month CD 0.10 0.85 3 month CD 0.16 0.91 6 month CD 0.26 1.01 12 month CD 0.44 1.19 24 month CD 0.63 1.38 36 month CD 0.79 1.54 48 month CD 0.90 1.65 60 month CD 1.10 1.85 Jumbo Deposits (≥ $100,000) Deposit Products National Rate 1 Rate Cap 2 Savings 0.08 0.83 Interest Checking 0.05 0.80 Money Market 0.21 0.96 1 month CD 0.12 0.87 3 month CD 0.18 0.93 6 month CD 0.29 1.04 12 month CD 0.48 1.23 24 month CD 0.69 1.44 36 month CD 0.84 1.59 48 month CD 0.95 1.70 60 month CD 1.14 1.89 The FDIC began posting the National Rate and Rate Cap on May 18, 2009. Data is not available prior to May 18, 2009. This historical data can be accessed at Previous Rates

Guidance to Help Financial Institutions and Facilitate Recovery in Areas of California Affected by Wildfires and High Winds I Financial Institution Letter I FDIC

fdic.gov FIL-41-2018 August 9, 2018 FIL-41-2018 - PDF ( PDF Help ) Summary: The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of California affected by wildfires and high winds. Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter applies to all FDIC-supervised financial institutions. Highlights: Wildfires and high winds caused significant property damage in areas of California from July 23, 2018, and continuing. A federal disaster for selected areas in California was declared on July 23, 2018, to make federal assistance available to eligible individuals. Additional designations may be made after damage assessments are completed in the affected areas. A current list of designated areas is available at www.fema.gov/ . The FDIC is encouraging banks to work constructively with borrowers experiencing difficul

FDIC: Weekly National Rates and Rate Caps I FDIC

fdic.gov FDIC: Weekly National Rates and Rate Caps _______________________________________________________________________________ On May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the "national rate" as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC. The national rates and rate caps for various deposit maturities and sizes are provided below. For more information. see Financial Institution Letter FIL-25-2009 Rates updated July 23, 2018 Non-Jumbo Deposits (< $100,000) Deposit Products National Rate 1 Rate Cap 2 Savings 0.08 0.83 Interest Checking 0.05 0.80 Money Market 0.13 0.88 1 month CD 0.09 0.84 3 month CD 0.15 0.90 6 month CD 0.24 0.99 12

FDIC: Weekly National Rates and Rate Caps I FDIC

fdic.gov FDIC: Weekly National Rates and Rate Caps On May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the "national rate" as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC. The national rates and rate caps for various deposit maturities and sizes are provided below. For more information. see Financial Institution Letter FIL-25-2009 Rates updated July 2, 2018 Non-Jumbo Deposits (< $100,000) Deposit Products National Rate 1 Rate Cap 2 Savings 0.08 0.83 Interest Checking 0.05 0.80 Money Market 0.12 0.87 1 month CD 0.09 0.84 3 month CD 0.15 0.90 6 month CD 0.23 0.98 12 month CD 0.40 1.15 24 month CD 0.59 1.34 36 month CD 0.74 1.49 48 month CD 0.84

FDIC: Weekly National Rates and Rate Caps | FDIC.

fdic.gov FDIC: Weekly National Rates and Rate Caps On May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the "national rate" as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC. The national rates and rate caps for various deposit maturities and sizes are provided below. For more information. see Financial Institution Letter FIL-25-2009 Rates updated June 18, 2018 Non-Jumbo Deposits (< $100,000) Deposit Products National Rate 1 Rate Cap 2 Savings 0.08 0.83 Interest Checking 0.05 0.80 Money Market 0.12 0.87 1 month CD 0.08 0.83 3 month CD 0.14 0.89 6 month CD 0.23 0.98 12 month CD 0.39 1.14 24 month CD 0.57 1.32 36 month CD 0.73 1.48 48

Weekly National Rates and Rate Caps | FDIC

fdic.gov FDIC: Weekly National Rates and Rate Caps On May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the "national rate" as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC. The national rates and rate caps for various deposit maturities and sizes are provided below. For more information. see Financial Institution Letter FIL-25-2009 Rates updated June 11, 2018 Non-Jumbo Deposits (< $100,000) Deposit Products National Rate 1 Rate Cap 2 Savings 0.08 0.83 Interest Checking 0.05 0.80 Money Market 0.12 0.87 1 month CD 0.08 0.83 3 month CD 0.14 0.89 6 month CD 0.22 0.97 12 month CD 0.38 1.13 24 month CD 0.56 1.31 36

FDIC | Press Release: FDIC Issues Fourth Quarter 2014 CRA Examination Schedule -August 29, 2014-.

Press Release FDIC Issues Fourth Quarter 2014 CRA Examination Schedule FOR IMMEDIATE RELEASE August 29, 2014 Media Contact: Greg Hernandez (202) 898-6984 Cell: (202) 340-4922 Email:  ghernandez@fdic.gov The Federal Deposit Insurance Corporation (FDIC) has issued the public list of institutions that it has scheduled for a Community Reinvestment Act (CRA) examination during the fourth quarter of 2014. This list is published pursuant to revised CRA regulations published in May 1995 that require each federal bank and thrift regulator to publish a quarterly CRA examination schedule at least 30 days before the beginning of each quarter. The examination schedule reflects the effects of an institution's size and CRA rating on examination frequency. Absent reasonable cause, an institution with $250 million or less in assets and a CRA rating of Satisfactory can be subject to a CRA examination no more frequently than once every 48 months. Absent reasonable cause, an institution wi

FDIC : Press Release,FDIC Closes on Two Note Offerings Backed by Loans and Real Estate from Corus Bank and Franklin Bank, S.S.B. April 20th, 2010

Image
Press Release FDIC Closes on Two Note Offerings Backed by Loans and Real Estate from Corus Bank and Franklin Bank, S.S.B FOR IMMEDIATE RELEASE April 20, 2010 Media Contact: Andrew Gray (202) 898-7192 The Federal Deposit Insurance Corporation (FDIC) closed on two note offerings backed by performing and non-performing construction loans, residential loans and real estate owned (REO) assets formerly held by the FDIC as receiver for Corus Bank, N.A., Chicago, and Franklin Bank, S.S.B, Houston. The sales were conducted through private offerings to qualified purchasers. The $1.38 billion of Corus notes are backed by performing and non-performing construction loans and REO assets with a related aggregate unpaid balance of approximately $4.5 billion. The notes were originally issued in October 2009 to the Corus Bank receivership in connection with the creation of an LLC to hold the aforementioned assets, and are guaranteed by the FDIC in its corporate capa