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#1051250 - 09/26/08 02:46 PM FDIC To Simplify Dep Insur Rules for Revoc Trust
Reads Regs Offline
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Joined: Nov 2004
Posts: 2,285
The FDIC Board met at 10:00 a.m. this morning to discuss an interim rule to simplify their deposit insurance rules for revocable trust accounts. See this web page.

http://www.fdic.gov/news/board/notice26Sept2008.html

The notice includes the staff memo to the Board and a draft of the interim rule.

Did anyone watch the web cast? Did the Board approve the interim rule?
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Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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General Discussion
#1051377 - 09/26/08 03:37 PM Re: FDIC To Simplify Dep Insur Rules for Revoc Trust Reads Regs
Reads Regs Offline
Diamond Poster
Joined: Nov 2004
Posts: 2,285
I called the phone number listed on the meeting notice and left a message asking if the Board approved the rule. Someone from the FDIC left me a message and said it was approved by the Board.
_________________________
Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#1051560 - 09/26/08 04:51 PM Re: FDIC To Simplify Dep Insur Rules for Revoc Trust Reads Regs
Reads Regs Offline
Diamond Poster
Joined: Nov 2004
Posts: 2,285
Here's a link to the FDIC press release on this. http://www.fdic.gov/news/news/press/2008/pr08086.html
_________________________
Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#1051616 - 09/26/08 05:15 PM Re: FDIC To Simplify Dep Insur Rules for Revoc Trust Reads Regs
Mary Beth Guard Offline
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Mary Beth Guard
Joined: Oct 2000
Posts: 797
Oklahoma City, OK
This is truly a big deal.

Yes, they approved it.

It goes into effective IMMEDIATELY. The actual documents aren't out yet, but they plan to get them out this weekend.

EDIE (the FDIC's Electronic Depositor Insurance Estimator) will be updated this weekend as well.

We're going to have something out on this ASAP.
Last edited by Mary Beth Guard; 09/26/08 05:43 PM.
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#1052220 - 09/27/08 12:39 AM Re: FDIC To Simplify Dep Insur Rules for Revoc Trust Mary Beth Guard
Mary Beth Guard Offline
Platinum Poster
Mary Beth Guard
Joined: Oct 2000
Posts: 797
Oklahoma City, OK
The briefing we put out early this afternoon is here:

BankersOnline Special Briefing

Mr./Ms. Reads Regs -- your name is very appropriate! And you are very plugged in!

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