Large Bank Deposit Insurance Determination Modernization
The Board of Directors adopted the “Large-Bank Deposit Insurance Determination Modernization” rule (Section 360.9 of the FDIC’s Rules and Regulations), which requires roughly the largest 160 insured depository institutions to implement functionality for posting provisional holds and supplying depositor and customer data in a standard format. An insured depository institution falling under the requirements of this rule is designated as a “Covered Institution”.