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FDIC Extends Comment Period on Stress Test Proposal
The Federal Deposit Insurance Corporation (FDIC) extended until April 30, 2012, the comment period on a proposal to implement the requirements in Section 165 of the Dodd-Frank Wall Street Reform and Consumer Protection Act to require state, non-member banks and savings associations with more than $10 billion in consolidated assets to conduct annual stress tests.
Due to the scope and complexity of the proposal, the FDIC decided to extend the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 23, 2012.
The proposed rule was approved at the January 17, 2012, FDIC Board meeting and was published in the Federal Register on January 23, 2012.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,359 banks and savings associations, and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-31-2012
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