The FDIC issued a proposed rule to improve the process of determining uninsured depositors at large institutions and enhance the regulator’s ability to make funds available promptly to insured customers if a large financial institution is closed.

Certain larger, or so-called “covered” institutions, would be required to adopt mechanisms that, in the event of a failure, would place provisional holds on large deposit accounts in a percentage specified by the FDIC; provide the FDIC with deposit account data in a standard format; and allow automatic removal of provisional holds once the FDIC has made an insurance determination. “Covered” institutions include banks with $2 billion in domestic deposits and either (1) more than 250,000 deposit accounts or (2) total assets of more than $20 billion. In December, there were 159 FDIC-insured institutions meeting these criteria.

Other proposed requirements that would apply to all FDIC-insured institutions govern the specific time and circumstances under which account balances are determined in the event of a failure. The FDIC is proposing the use of end-of-day ledger balances as normally calculated by the institution.

In a news release, the FDIC said it has usually been able to allow most depositors access to their deposits on the next business day after a closure, and that the proposed rules would better enable the FDIC to continue this practice.

The proposed rules are available at Comments will be accepted until April 14.

The Office of the Comptroller of the Currency revised the asset-size thresholds used to define “small bank” and “intermediate small bank” in regulations to the Community Reinvestment Act.

Beginning Jan. 1, 2008, banks that as of Dec. 31 of either of the prior two calendar years had assets of less than $1.061 billion are “small banks.” Small banks with assets of at least $265 million as of Dec. 31 of either of the prior two calendar years and less than $1.061 billion as of Dec. 31 of either of the two prior calendar years are “intermediate small banks.”

The rule was issued jointly with the Federal Reserve, the FDIC and the Office of Thrift Supervision. The full text is available at


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