Clarification:

On April 1 the Federal Deposit Insurance Corp. will start automatically amending its rules on corporate demand deposits anytime the Federal Reserve Board changes its definition of interest on them. A Feb. 20 news brief on page 2 may have left the inaccurate impression that the Fed was planning to repeal the ban on interest-bearing corporate checking.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER