Large-Bank Deposit Insurance Determination Modernization FAQs
How will the standard data files be transmitted to the FDIC?
For most Covered Institutions, the FDIC will use a secure FTP site as the basis for the transmission of files to and from the FDIC. The file transmission protocols will be supplied to a Covered Institution when transmission is necessary. The FDIC routinely uses a secure FTP mechanism for receiving data on troubled or failing institutions, and in these cases, the protocols for the transmission of data are provided when necessary.
How will the FDIC provide the Non-Monetary Transaction and Debit/Credit files to a Covered Institution?
These files also will be provided via a secure FTP site.
Will the transmitted data be encrypted?
No, encryption will not be necessary due to the secure nature of the file transmission mechanism.