Details

Service: Advisory, Risk Consulting, Financial Risk Management
Industry: Banking & Capital Markets
Type: Publication series
Date: 2/20/2013

February 18, 2013 The Washington Report

FDIC Approves Proposed Rule to Clarify Insurance Coverage of Deposits Held in Foreign Branches of U.S. Banks

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The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) approved a notice of proposed rulemaking on February 12, 2013 that would clarify that deposits in foreign branches of U.S. banks can be deposits for purposes of the national depositor preference statute enacted in 1993, but are not FDIC-insured.

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