WASHINGTON – In a move that could have far-reaching implications for the nation’s banking system, the Federal Deposit Insurance Corporation (FDIC) has extended the comment period on its Request for Information (RFI) on deposit data. The FDIC issued the RFI on October 8, 2024, seeking information on the characteristics that affect the stability and franchise value of different types of deposits.
The RFI is focused on deposits that are not currently reported in the Call Report or other regulatory reports, including for uninsured deposits. The FDIC is seeking input from the public on whether more detailed or more frequent reporting on these characteristics or types of deposits could enhance offsite risk and liquidity monitoring, inform analysis of the benefits and costs associated with additional deposit insurance coverage for certain types of deposits, improve risk sensitivity of deposit insurance pricing, and provide analysts and the general public with accurate and transparent data.
An extension of the comment period will allow the public additional time to consider the request, prepare comments, and address the questions posed by the FDIC. The original comment period was set to expire on November 7, 2024, but the FDIC has now extended it until December 6, 2024.
The FDIC’s Request for Information is a crucial step in the agency’s efforts to improve the nation’s banking system and protect consumers. By seeking input from the public, the FDIC is ensuring that the agency has a comprehensive understanding of the issues at hand and can make informed decisions about the future of deposit insurance.
The extension of the comment period is a positive development for those who are interested in participating in the public comment period. It will provide individuals and organizations with additional time to review the RFI and prepare comments, and will also allow the FDIC to receive more input from a wider range of stakeholders.
Those interested in commenting on the FDIC’s Request for Information can do so by visiting the Federal Register website. The comment period will remain open until December 6, 2024, and comments can be submitted electronically or by mail.”
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Key Facts
- Agency: FDIC
- Category: Fraud & Financial Crimes
- Source: Official Source â†â€â€ÂÂÂ
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