Summary: |
On September 12, 2013, the FDIC Board of Directors adopted the attached Final Rule to clarify that deposits in foreign branches of U.S. banks are not eligible for deposit insurance, although they may qualify as deposits for the purpose of national depositor preference. The Final Rule will be effective October 15, 2013.
Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter would affect all insured depository institutions with foreign branches, including those with less than $1 billion in assets. |
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Additional Related Topics:
- Deposit Insurance Regulations
- 12 CFR Part 330