Skip to main content
U.S. flag
An official website of the United States government
Dot gov
The .gov means it’s official. 
Federal government websites often end in .gov or .mil. Before sharing sensitive information, make sure you’re on a federal government site.
Https
The site is secure. 
The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely.
INACTIVE
This page is no longer active. Its content has expired or been rescinded by the FDIC.
Financial Institution Letter

Recordkeeping and Confirmation Requirements for Securities Transactions


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)


FIL-32-96

Last Updated: May 29, 1996