Highlights:
The FAQs cover the following general categories of
questions:
- The types of sweep accounts covered by the disclosure requirements, as well as those that are excluded.
- The type and nature of disclosures required by the rule.
- The frequency of required sweep account disclosures.
- The principles used by the FDIC to determine how swept funds will be treated in the event of failure.
- The requirements for a properly structured repo sweep.
Distribution:
All Insured Depository Institutions
Suggested Routing:
Chief Executive Officer
Chief Operating Officer
Regulatory Compliance Officer
Related Topics:
Deposit Insurance Coverage
12 C.F.R. Part 330
Transaction Account Guarantee Program
12 C.F.R. Part 370
Attachment:
FAQs
Contact:
James Marino, Project Manager, Division of Resolutions and Receiverships, at jmarino@fdic.gov or 202-898-7151; or Joseph A. DiNuzzo, Counsel, Legal Division, at
jdinuzzo@fdic.gov or (202) 898-7349
Printable Format:
FIL-39-2009 - PDF (PDF Help)
Note:
FDIC financial institution letters (FILs) may be
accessed from the FDIC's Web site at
www.fdic.gov/news/news/financial/2009/index.html.
To receive FILs electronically, please visit
http://www.fdic.gov/about/subscriptions/fil.html.
Paper copies of FDIC financial institution letters
may be obtained through the FDIC's Public
Information Center, 3501 Fairfax Drive, E-1002,
Arlington, VA 22226 (1-877-275-3342 or 703-562-
2200).
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