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ARTICLE · 26 AUGUST 2009

ABA Issues Letter To FDIC On Deposit Interest Restrictions

Goodwin Procter LLP
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The American Bankers Association (the “ABA”) requested guidance from the FDIC on a number of issues concerning the FDIC’s recent changes to its rule (the “Final Rule”) that imposes interest rate restrictions on banks that are not “well-capitalized.”

United StatesFinance and Banking

Developments of Note

  • ABA Issues Letter to FDIC on Deposit Interest Restrictions
  • SEC Sends Letters to CFOs of Certain Publicly-Held Banking Companies Regarding Disclosure of Loan Loss Accounting
  • SEC and CFTC to Hold Joint Meetings on Regulatory Harmonization

Other Item of Note

  • Goodwin Procter Issues Client Alert Discussing Recent Revisions to Massachusetts Data Security Regulations

DEVELOPMENTS OF NOTE

ABA Issues Letter to FDIC on Deposit Interest Restrictions

The American Bankers Association (the "ABA") requested guidance from the FDIC on a number of issues concerning the FDIC's recent changes to its rule (the "Final Rule") that imposes interest rate restrictions on banks that are not "well-capitalized." The Final Rule generally prohibits banks that are not "well-capitalized" from offering rates on deposits that are more than 75 basis points above an FDIC-computed national rate. Under the Final Rule affected banks may petition the FDIC

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