Summary: | The Federal Deposit Insurance Corporation (FDIC) has published the attached final rule, which recognizes elimination of the monthly three transfer sublimit for certain types of withdrawals from the savings deposits of FDIC-supervised institutions. The overall six transfer limit on pre-authorized or automatic withdrawals will still exist. This rule parallels a recent amendment to Regulation D by the Federal Reserve Board, which took effect on July 2, 2009. Under the FDIC Rules and Regulations, FDIC-supervised institutions become subject to exceptions to statutory prohibitions as soon as they are promulgated by the Federal Reserve Board. |
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To receive FILs electronically, visit http://www.fdic.gov/about/subscriptions/fil.html . Paper copies of FDIC financial institution letters may be obtained via the FDIC's Public Information Center (1-877- 275-3342 or 703-562-2200).
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Additional Related Topics:
- Interest on Deposits
- 12 C.F.R. Part 329