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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Financial Institution Letters

FIL-32-2017
July 26, 2017

Securities and Exchange Commission Rule Amended to Shorten the Securities Transaction Settlement Cycle

Printable Format:

FIL-32-2017 - PDF (PDF Help)

Summary:

The Federal Deposit Insurance Corporation (FDIC) is issuing this announcement to highlight actions that banks should take to prepare for the change in the Securities Exchange Commission's (SEC) rule governing the securities settlement cycle for securities transactions conducted by most broker-dealers. The effective date for the change is September 5, 2017.

Statement of Applicability to Institutions with Total Assets under $1 Billion: This Financial Institution Letter applies to all FDIC-supervised financial institutions.

Highlights:

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Note:

FDIC Financial Institution Letters (FILs) may be accessed from the FDIC's website at https://www.fdic.gov/news/news/financial/2017/.

To receive FILs electronically, please visit https://service.govdelivery.com/accounts/USFDIC/subscriber/new.

Paper copies may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E 1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).

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