FDIC proposes revised deposit insurance requirements for large banks

The Federal Deposit Insurance Corporation (FDIC) has proposed new requirements for large banks regarding deposit insurance, aiming to replace its 2016 rule. The proposal would create a new tier of 'larger covered institutions' (banks with at least $2 billion in deposits and two million or more deposit accounts) that would need to maintain depositor and customer data in a standard format and be able to post and remove provisional holds on accounts. The FDIC estimates this would affect 148 insured institutions and aims to rebalance the framework for prompt deposit insurance determinations in the event of a large bank failure.