81 FR 33424 - Recordkeeping for Timely Deposit Insurance Determination

FEDERAL DEPOSIT INSURANCE CORPORATION

Federal Register Volume 81, Issue 102 (May 26, 2016)

On February 26, 2016, the FDIC published in the Federal Register a notice of proposed rulemaking entitled ``Recordkeeping for Timely Deposit Insurance Determination'' and solicited public comment. To allow the public more time to consider this proposed rulemaking and the issues and questions posed for comment, particularly those related to the estimated cost of compliance, the FDIC has determined that an extension of the comment period for an additional 30-day period ending June 27, 2016, is appropriate.

[Federal Register Volume 81, Number 102 (Thursday, May 26, 2016)]
[Proposed Rules]
[Page 33424]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-12325]


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Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

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Federal Register / Vol. 81, No. 102 / Thursday, May 26, 2016 / 
Proposed Rules

[[Page 33424]]



FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Part 370


Recordkeeping for Timely Deposit Insurance Determination

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Proposed rule; extension of comment period.

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SUMMARY: On February 26, 2016, the FDIC published in the Federal 
Register a notice of proposed rulemaking entitled ``Recordkeeping for 
Timely Deposit Insurance Determination'' and solicited public comment. 
To allow the public more time to consider this proposed rulemaking and 
the issues and questions posed for comment, particularly those related 
to the estimated cost of compliance, the FDIC has determined that an 
extension of the comment period for an additional 30-day period ending 
June 27, 2016, is appropriate.

DATES: The comment period for the proposed rule published February 26, 
2016 (81 FR 10026), is extended. Comments must be received on or before 
June 27, 2016.

ADDRESSES: You may submit comments by any of the following methods:
     Agency Web site: http://www.fdic.gov/regulations/laws/federal. Follow the instructions for submitting comments on the Agency 
Web site.
     Email: [email protected]. Include ``Recordkeeping for 
Timely Deposit Insurance Determination'' in the subject line of the 
message.
     Mail: Robert E. Feldman, Executive Secretary, Attention: 
Comments, Federal Deposit Insurance Corporation, 550 17th Street NW., 
Washington, DC 20429.
     Hand Delivery/Courier: Guard station at the rear of the 
550 17th Street Building (located on F Street) on business days between 
7 a.m. and 5 p.m. (EST).
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments.
    Public Inspection: All comments received will be posted without 
change to http://www.fdic.gov/regulations/laws/federal including any 
personal information provided. Comments may be inspected and 
photocopied in the FDIC Public Information Center, 3501 North Fairfax 
Drive, Room E-1002, Arlington, VA 22226, between 9 a.m. and 5 p.m. 
(EST) on business days. Paper copies of public comments may be ordered 
from the Public Information Center by telephone at (877) 275-3342 or 
(703) 562-2200.

FOR FURTHER INFORMATION CONTACT: Marc Steckel, Deputy Director, 
Division of Resolutions and Receiverships, 571-858-8224; Teresa J. 
Franks, Associate Director, Division of Resolutions and Receiverships, 
571-858-8226; Shane Kiernan, Counsel, Legal Division, 703-562-2632; 
Karen L. Main, Counsel, Legal Division, 703-562-2079.

SUPPLEMENTARY INFORMATION: In its notice of proposed rulemaking 
entitled ``Recordkeeping for Timely Deposit Insurance Determination'' 
(the ``NPR'' or the ``proposed rule''), the FDIC introduced potential 
new requirements for certain large and complex insured depository 
institutions to ensure that depositors have prompt access to insured 
funds in the event of a failure.\1\ The FDIC sought comment on all 
aspects of the proposed rule and requested that commenters respond to 
numerous questions within the 90-day comment period ending May 26, 
2016.
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    \1\ 81 FR 10026.
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    In connection with the development of the advance notice of 
proposed rulemaking that preceded the NPR, an independent consulting 
firm was retained by the FDIC to develop cost estimates in order to 
estimate the expected costs of implementing additional information 
technology capabilities and recordkeeping requirements to facilitate 
prompt payment of FDIC-insured deposits when large insured depository 
institutions fail. The FDIC has placed a copy of the independent 
consulting firm's report in the comment file for the proposed rule 
(available at https://www.fdic.gov/regulations/laws/federal/2016/2016_recordkeeping_3064-AE33.html). The report has been redacted to 
ensure confidentiality of proprietary information. In order to provide 
the public sufficient time to review and consider the independent 
consulting firm's report when commenting on the proposed rule, the FDIC 
is extending the comment period for an additional 30 days. The comment 
period will now close on June 27, 2016.

    Dated at Washington, DC, this 20th day of May 2016.

Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
[FR Doc. 2016-12325 Filed 5-25-16; 8:45 am]
 BILLING CODE 6714-01-P