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Financial Institution Letter

Request for Information on FDIC Communication and Transparency

October 1, 2018
Notes
 

Summary:

On October 1, 2018, the Federal Deposit Insurance Corporation (FDIC) issued a Request for Information seeking comments and information from interested parties on the FDIC's communication methods and related initiatives. This Request for Information is part of a continuing effort to promote efficiency and increase transparency. Comments on this Request for Information will be accepted for 60 days after date of publication in the Federal Register .

Statement of Applicability to Institutions under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-insured financial institutions.

Highlights:

  • The FDIC is responsible for maintaining stability and public confidence in the nation's financial system by insuring deposits, examining and supervising financial institutions for safety and soundness and consumer protection, making large and complex financial institutions resolvable, and managing receiverships. In order to accomplish this mission, the FDIC must be able to communicate efficiently and effectively with financial institutions.
  • The FDIC recognizes that the amount of information the Agency provides to banks can create challenges for institutions.
  • The FDIC uses many forms of communication to inform insured depository institutions about regulations, policies and guidance, industry data and educational materials, and other news and updates. Representative forms of communication are included in the Request for Information.
  • To reduce burden for institutions and others seeking information, the FDIC is soliciting input on how best to streamline and improve communication with the industry.
  • The Request for Information seeks general feedback on the FDIC's communication, transparency, and related initiatives. The FDIC also requests feedback on specific topics and questions related to the FDIC's communication and transparency, which are included in the Request for Information.
  • Comments on the Request for Information will be accepted for 60 days after publication in the Federal Register .

Distribution:

  • All FDIC-insured institutions

Suggested Routing:

  • Board of Directors
  • Chief Executive Officer
  • Compliance Officer
  • Chief Lending Officer
  • Chief Financial Officer
  • Chief Information Officer

Paper copies may be obtained via the FDIC's Public Information Center, 3501 Fairfax Drive, E 1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).

FIL-53-2018
Attachment(s)

Last Updated: October 1, 2018