RIN Data

The Federal Deposit Insurance Corporation (FDIC) sought comment on a proposed rule that would facilitate prompt payment of FDIC-insured deposits when large insured depository institutions fail. The proposal required insured depository institutions that have two million or more deposit accounts to maintain complete and accurate data on each depositor’s ownership interest by right and capacity for all of the institution’s deposit accounts, and to develop the capability to calculate the insured and uninsured amounts for each deposit owner by ownership right and capacity for all deposit accounts, which would be used by the FDIC to make deposit insurance determinations in the event of the insured depository institution’s failure.