FDIC 90 YEAR CELEBRATION | LEARN ABOUT FDIC'S HISTORY FDIC Unveils Animated Timeline of Agency’s History and Mission . . . [t]he Federal Deposit Insurance Corporation unveiled an animated timeline of the 90-year history of the agency and its mission. Since its creation in 1933, the FDIC has protected the money people entrust to our nation’s banks. This immersive timeline will take you on a digital tour through the decades as you learn more about how the FDIC maintains stability and public confidence in the nation's financial system. During this history, there have been periods that were especially challenging but through it all, no insured depositor lost a penny of their funds. So take a stroll through FDIC’s history and dive deeper into those moments that continue to shape our nation’s banking system. Start your tour of the FDIC’s Animated Historical Timeline at https://lnkd.in/eg6BQ84w.
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US regulators seized Republic First Bancorp after the failed institution agreed to sell to Pennsylvania-headquartered Fulton Bank. Republic Bank had about $6 billion in total assets and $4 billion in total deposits, as of Jan. 31, 2024. The FDIC estimates that the cost to the Deposit Insurance Fund related to the failure will be $667 million. The decision marks the latest regional bank failure and marks the 10th failed financial institution this decade so far. I've received more inquiries about FDIC coverage during the past 14 months than I normally do. It's interesting because 10 failed banks (so far) in the 2020s is a fraction compared to the 367 that went belly up in the 2010s. One of the ways to help preserve all your deposits is to review coverage you have at each institution. Reach out to me if you'd like to discuss ways to increase your FDIC limits. https://lnkd.in/edB5QMGH
FDIC: Failed Bank List
fdic.gov
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Fed, FDIC feedback letters flag issues in four large banks’ resolution plans The Federal Reserve Board and Federal Deposit Insurance Corporation have determined after their reviews of the July 2023 resolution plan submissions of the eight largest and most complex banks that there are “weaknesses” in the plans for four of the companies related to the implementation of their derivative unwind strategies, Bank of America Corp., Citigroup, Inc., Goldman Sachs Group, Inc., and JPMorgan Chase & Co. The agencies said they did not identify any weakness in the resolution plans submitted by Bank of New York Mellon Corp., Wells Fargo & Co., State Street Corp., and Morgan Stanley. The resolution plans, also known as living wills, must describe a financial company’s strategy for rapid and orderly resolution in bankruptcy in the event of its material financial distress or failure. In their feedback letters to each of the eight banks, the agencies identified areas for “continued development of banks’ resolution strategies and capabilities,” while the letters to the four banks with identified shortcomings also detail required “remedial” actions and call for the firms to develop and submit by Sept. 1, 2024, the “key actions” they will take to address the problems.
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Read this.
Wanted to take some time to read (and savor) this. Well done, Federal Deposit Insurance Corporation (FDIC) The markets may not want to believe it, but I have no doubt the FDIC has the will, skills, plan, and competencies to put one of the mega banks into a Title II resolution. Let’s just hope that if and when the time comes, the outstanding FDIC team gets the support they need from the Fed and US Treasury.
FDIC Releases Comprehensive Report On Orderly Resolution of Global Systemically Important Banks
fdic.gov
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MA, MS | Columbia University Global Center Scholar | Fouad Butros Academic Award Recipient
📢**𝐃𝐨𝐧'𝐭 𝐋𝐞𝐭 𝐚 𝐁𝐢𝐠 𝐁𝐚𝐧𝐤 𝐅𝐚𝐢𝐥 𝐒𝐢𝐧𝐤 𝐭𝐡𝐞 𝐒𝐲𝐬𝐭𝐞𝐦** 💥💥 Interested in #ResolutionPlanning and how a bank goes through the #Bankruptcy Code? The #FDIC’s new publication unveils a timely analysis on #ResolutionPlan, explaining how to manage the collapse of a large, global and complex financial institution (#GSIB). #𝑪𝒓𝒆𝒅𝒊𝒕𝑺𝒖𝒊𝒔𝒔𝒆 𝑪𝒐𝒍𝒍𝒂𝒑𝒔𝒆: 𝑨 𝑫𝒊𝒇𝒇𝒆𝒓𝒆𝒏𝒕 𝑷𝒂𝒕𝒉 𝑭𝒐𝒓𝒘𝒂𝒓𝒅? Last year, #Swiss authorities opted for a taxpayer-funded rescue of Credit Suisse instead of an orderly resolution process. In contrast, the FDIC advocates for an orderly resolution plan that protects #taxpayers funds, by placing the burden on #shareholders and #creditors. FDIC also argues that such a strategy mitigates contagion from spilling over into the broader financial system and prevents the shadows of another 2008 collapse. 🏛 The FDIC’s proposed Single Point of Entry (#SPOE) strategy separates the failing GSIB's core functions from its holding company, ensuring critical operations continue during a resolution. Is your #FinancialStability radar on? What challenges could financial institutions face if new adjustments to #LTD & #TLAC are adopted? And how might these changes impact resolution planning? Keep your eye on the growing regulatory landscape. More details below!
FDIC Releases Comprehensive Report On Orderly Resolution of Global Systemically Important Banks
fdic.gov
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Discover hidden assets! Financial institutions, insurance companies, and businesses must report dormant assets after three years of inactivity. Your unclaimed property can include bank accounts, stocks, uncashed checks, and more. Search to discover your unclaimed assets.
FDIC: Unclaimed Property Information by State
fdic.gov
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Discover hidden assets! Financial institutions, insurance companies, and businesses must report dormant assets after three years of inactivity. Your unclaimed property can include bank accounts, stocks, uncashed checks, and more. Search to discover your unclaimed assets.
FDIC: Unclaimed Property Information by State
fdic.gov
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Discover hidden assets! Financial institutions, insurance companies, and businesses must report dormant assets after three years of inactivity. Your unclaimed property can include bank accounts, stocks, uncashed checks, and more. Search to discover your unclaimed assets.
FDIC: Unclaimed Property Information by State
fdic.gov
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Discover hidden assets! Financial institutions, insurance companies, and businesses must report dormant assets after three years of inactivity. Your unclaimed property can include bank accounts, stocks, uncashed checks, and more. Search to discover your unclaimed assets.
FDIC: Unclaimed Property Information by State
fdic.gov
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Discover hidden assets! Financial institutions, insurance companies, and businesses must report dormant assets after three years of inactivity. Your unclaimed property can include bank accounts, stocks, uncashed checks, and more. Search to discover your unclaimed assets.
FDIC: Unclaimed Property Information by State
fdic.gov
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Discover hidden assets! Financial institutions, insurance companies, and businesses must report dormant assets after three years of inactivity. Your unclaimed property can include bank accounts, stocks, uncashed checks, and more. Search to discover your unclaimed assets.
FDIC: Unclaimed Property Information by State
fdic.gov