Mar 15, 2:00pm In April 2017, FDIC introduced the “Recordkeeping for Timely Deposit Insurance Determination” rule (Part 370) requiring insured institutions with more than two million deposit accounts to configure their systems to be capable of calculating the insured and uninsured amount in each deposit account by ownership right and capacity by April 2020.
With tax reform close to the finish line, bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill includes some caveats that might give institutions pause.
For the first time in nearly nine years, an acquirer of a failed bank agreed to purchase only the institution’s insured deposits, making it likely that some customers will not recoup all of their uninsured funds.
It was mostly good news for banks in the Federal Deposit Insurance Corp.'s Quarterly Banking Profile, with higher earnings and net interest margins. But there were concerns as well, including slower loan and deposit growth.
Bankers are generally happy with the House Republican tax plan released last week, but one provision of the proposed overhaul is likely to give them pause: a cutback in the deduction for deposit insurance premiums.