FDIC Part 370 frequently asked questions

For the benefit of insured depository institutions with two million or more deposit accounts (a “Covered Institution” or “CI”), FDIC has recently published a compilation of frequently asked questions (“FAQs”) from the inquiries it had received from covered institutions as well as outreach meetings it had conducted with them. This publication also provides FDIC responses and staff opinions as guidance to covered institutions in implementing 12 C.F.R. Part 370 (“Part 370”).

In the publication, FDIC also notes that the Technical Guide will be updated over time, as when “new information regarding system architecture, interfaces, capabilities, and limitations may come to light resulting in additional feedback” from input from FDIC to covered institutions.

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