On September 9, 2009, the FDIC Board of Directors approved a rule to finalize: (1) the deposit insurance coverage regulations to reflect the extension of the temporary increase in the standard maximum deposit insurance amount (SMDIA) to $250,000 through December 31, 2013, and (2) the 2008 interim rules regarding revocable trust accounts and mortgage servicing accounts.
The final rule updates the FDIC's deposit insurance regulations and related examples to reflect a law signed in May 2009 extending the temporary increase in the SMDIA to $250,000 through December 31, 2013. (See FDIC FIL-22- 2009.)
The rule finalizes, without substantive changes, revisions to the revocable trust account regulations adopted by the FDIC in September 2008. (See FDIC FIL-99-08.) The revised regulations clarify that the FDIC will consider information in an insured institution's electronic deposit account records to determine if the titling requirement for revocable trust accounts is satisfied.
The rule finalizes, without substantive changes, the revisions to the mortgage servicing account regulations adopted by the FDIC in October 2008. (See FDIC FIL-111-08.)
All FDIC-insured Institutions
Chief Executive Officer
Head of Deposit & Branch Operations
FDIC Deposit Insurance Regulations 12
CFR Part 330