Get Notice Of Proposed Rulemaking - Fdic - Fdic

II. Deposits in all certain retirement accounts owned by the same depositor and held at the same IDI are added together and the total is insured for up to $250,000. Naming beneficiaries does not increase deposit insurance coverage for certain retirement accounts.

Deposits are insured up to at least $250,000 per depositor, per FDIC-insured bank, per ownership category. Deposit insurance is calculated dollar-for-dollar, principal plus any interest accrued or due to the depositor, through the date of default.

The IDI Resolution Planning Rule Proposal would introduce a new element into the FDIC's credibility standard designed to evaluate the identified strategy and related requirements of Group A CIDIs.

Background. The current rule was proposed in 2010 and became effective in 2012; it has not been amended to date. It requires IDIs with $50 billion or more in total assets to periodically submit resolution plans that should enable the FDIC to resolve the CIDI in the event of its insolvency under the FDI Act.

12 CFR Part 324. RIN 3064–AF29. Regulatory Capital Rule: Large. Banking Organizations and Banking. Organizations With Significant Trading.

Each resolution plan, commonly known as a “living will”, submitted under Section 165(d) must describe the firm's strategy for rapid and orderly resolution under the U.S. Bankruptcy Code in the event of material financial distress or failure of the company.

The current rule was proposed in 2010 and became effective in 2012; it has not been amended to date. It requires IDIs with $50 billion or more in total assets to periodically submit resolution plans that should enable the FDIC to resolve the CIDI in the event of its insolvency under the FDI Act.