Each depositor insured to at least $250,000 per insured bank



Home > News & Events > Inactive Financial Institution Letters 




Inactive Financial Institution Letters 

Recordkeeping and Confirmation Requirements
for Securities Transactions
FIL-32-96
May 29, 1996
TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Advance Notice of Proposed Rulemaking on Recordkeeping
and Confirmation Requirements for Securities Transactions
(Part 344 of the FDIC's Rules and Regulations)

The FDIC Board of Directors is issuing for public comment an advance notice of proposed rulemaking amending the regulations concerning its recordkeeping and confirmation requirements for securities transactions. The regulations now in effect were issued by the FDIC in 1979. Since then, the types of securities activities occurring on bank premises have changed significantly.

This advance notice of proposed rulemaking gives the public an opportunity to comment on the relevance of the current regulations to various bank securities activities. It also invites comments about the types of information a customer should receive when completing a securities transaction on bank premises.

The Federal Reserve Board and the Office of the Comptroller of the Currency have already proposed amendments to their recordkeeping and confirmation requirements for securities transactions.

A copy of the advance notice is attached. Written comments are due by June 24, 1996. For more information, please call Patrick J. McCarty, Counsel in the Legal Division (202-898-8708), Curtis Vaughn, Examination Specialist in the Division of Supervision (202-898-6759), or John Harvey, Review Examiner (Trust) (202-898-6762).

Nicholas J. Ketcha Jr.
Director

Attachment: PDF Format (97 kb, PDF help or hard copy),HTML Format

Distribution: FDIC-Supervised Banks (Commercial and Savings)

 

Last Updated 07/13/1999 communications@fdic.gov