The FDIC proposed to amend two rules to streamline the process
for making insurance determinations if a bank is placed into
receivership.
The FDIC requested feedback on a proposal to make
revisions to
Part 370 (Recordkeeping for Timely Deposit Insurance
Determination) before the compliance date - April 1, 2020.
According to the FDIC, the proposal (i) clarifies the rule's
mandates, (ii) better aligns the "burdens of the rule with its
benefits" and (ii) makes technical corrections.
In addition, the FDIC proposed to amend
Part 330 (Deposit Insurance Coverage), which requires an
account to be "separately insured as a joint account."
The FDIC proposal would supply an alternative method to meet the
"signature card" requirement.
