FDIC moves to rescind large-bank deposit recordkeeping rule

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Hanna Syniavska

30.10.2026

FDIC moves to rescind large-bank deposit recordkeeping rule — FDIC eases bank rules

The Federal Deposit Insurance Corporation is advancing a regulatory change for large insured depository institutions that could alter how deposit insurance determinations are supported in a bank failure. The proposal would replace part 370 requirements with amendments to section 360.9 for banks with at least two million deposit accounts, while easing system-building obligations.

Highlights

FDIC board approved a proposal to rescind part 370, shifting large-bank deposit recordkeeping requirements to the 12 CFR 360.9 framework.
The amendment relieves banks with two million or more deposit accounts from building and maintaining deposit insurance calculation systems, reducing compliance burdens.
The proposal does not impose new requirements for institutions under section 360.9, with comments due 60 days after Federal Register publication.

Proposed rule shifts compliance framework

As reported by the Federal Deposit Insurance Corporation, the agency's board has approved a notice of proposed rulemaking to rescind part 370, a recordkeeping rule that applies to insured depository institutions with two million or more deposit accounts.

The proposal instead amends the Large-Bank Deposit Insurance Determination Modernization rule at 12 CFR 360.9 so it generally applies to institutions now covered by part 370. Both frameworks are designed to help the FDIC carry out deposit insurance determinations if a bank with a large number of deposit accounts fails.

The changes would relieve affected institutions of the requirement to build and maintain deposit insurance calculation systems. The FDIC says the amendments would better align recordkeeping and reporting burdens with the benefits of the regime, without materially reducing the agency's ability to calculate deposit insurance.

Operational impact for large U.S. banks

The proposal does not add new requirements or additional burdens for institutions already covered by section 360.9, indicating the main effect is a rebalancing of existing compliance obligations for the largest banks under the current part 370 regime.

For the U.S. banking sector, the move signals a regulatory effort to streamline how large-bank deposit data are maintained for resolution planning while preserving the FDIC's capacity to respond if an insured institution fails. Comments on the proposal are due 60 days after publication in the Federal Register.

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