Large-Bank Deposit Insurance Determination Modernization Rule and FAQs
In June 2008, the Board of Directors adopted the "Large-Bank Deposit Insurance Determination Modernization" rule (Section 360.9 of the FDIC's Rules and Regulations), which requires roughly the largest 160 insured depository institutions to implement functionality for posting provisional holds and supplying depositor and customer data in a standard format. An insured depository institution falling under the requirements of this rule is designated as a "Covered Institution".
The information provided in the following Frequently Asked Questions (FAQs) is a compilation of staff guidance provided in connection with actual questions received from industry members on the applicable issues. In addition to these FAQs, FDIC staff is available to answer questions from individual Covered Institutions, either via e-mail or over the phone. To make such arrangements, contact the FDIC at firstname.lastname@example.org.
Here is the link to the Federal Register notice (Vol. 73; No. 138; July 17, 2008) pertaining to the Large-Bank Deposit Insurance Determination Modernization rule. This Federal Register notice provides detail on the necessary requirements for complying with the rule.