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ICBA and 10 industry associations requested that the FDIC extend by 60 days the comment period for its request for information on deposits. The comment deadline is currently October 7, 2024.
Details: The associations noted that the original 60-day deadline for the RFI does not give stakeholders sufficient time to gather the broad swaths of data the FDIC is requesting. The FDIC is seeking data on:
The characteristics that affect the stability and franchise value of different types of deposits to inform calibration of deposit insurance.
Liquidity and other regulations.
Reporting and supervisory initiatives.
Group: Joining ICBA in the request for extension are the American Bankers Association, American Fintech Council, Bank Policy Institute, Consumer Bankers Association, Financial Services Forum, Financial Technology Association, Innovative Payments Association, Institute of International Bankers, National Association of Industrial Bankers, and Securities Industry and Financial Markets Association.