The Federal Deposit Insurance Corporation (FDIC) today conducted a meeting of the Advisory Committee on Community Banking on a variety of topics affecting community banks in the United States. The agenda included an update on the FDICs community banking initiatives, a discussion of technology service providers and other vendor management issues, a staff presentation on recently issued Guidance on Troubled Debt Restructuring, and the Uniform Agreement on Classification and Appraisal of Securities. The Advisory Committee agenda also included a discussion of a cyber-security exercise to highlight operational risk issues that may affect community banks. Other discussion items included the FDICs new Money Smart Business curriculum, the recently proposed inter-agency guidance on flood insurance, and proposed social media guidance.
The FDICs Advisory Committee on Community Banking meets three times a year and discusses and provides input to the FDIC on a wide variety of topics, including current examination policies and procedures, credit and lending practices, deposit insurance assessments, insurance coverage, and regulatory compliance.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 6,940 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-104-2013