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Vol. 81 Friday, No. 38 February 26, 2016, Part III Federal Deposit Insurance Corporation mstockstill on DSK4VPTVN1PROD with PROPOSALS3 12 CFR Part 370 Record keeping for Timely Deposit Insurance Determination;

How to fill out 12 cfr part 370

How to fill out 12 CFR Part 370:

1. Familiarize yourself with the purpose and requirements of 12 CFR Part 370. This regulation establishes requirements for covered financial institutions in the event of a failure of a non-publicly traded member of the Federal Reserve System.
2. Review the specific instructions provided by the applicable regulatory agencies, such as the Federal Deposit Insurance Corporation (FDIC) or Office of the Comptroller of the Currency (OCC), regarding the completion and submission of the required forms and reports.
3. Gather all necessary information and documentation required by 12 CFR Part 370. This may include data related to the financial institution, its affiliates, and any applicable financial contracts or liabilities.
4. Complete the required forms accurately and thoroughly, ensuring all relevant information is provided. This may involve inputting data electronically or filling out physical forms, depending on the specific instructions provided by the regulatory agency.
5. Review the completed forms for any errors or omissions. It is important to ensure the accuracy and completeness of the submitted information to comply with the requirements of 12 CFR Part 370.
6. Verify that any supporting documentation requested by the regulatory agencies is attached or provided as required.
7. Submit the completed forms and any required attachments to the appropriate regulatory agency within the specified timeframe indicated by 12 CFR Part 370.

Who needs 12 CFR Part 370:

1. Financial institutions that are members of the Federal Reserve System and are not publicly traded may be required to comply with 12 CFR Part 370.
2. This regulation applies to covered financial institutions that are subject to the jurisdiction of the applicable regulatory agencies, such as the FDIC or OCC.
3. Financial institutions that meet the criteria outlined in 12 CFR Part 370, such as the size and type of institution, may need to comply with the requirements of this regulation. It is important for each institution to evaluate its own eligibility and determine if 12 CFR Part 370 is applicable.

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What is 12 cfr part 370?

The FDIC's Part 370 regulations require insured depository institutions with 2 million or more deposit accounts to maintain complete and accurate information needed to facilitate rapid payment of insured deposits to customers in the event of the institution's failure.

Who is required to file 12 cfr part 370?

Insured depository institutions with 2 million or more deposit accounts are required to file 12 CFR Part 370.

How to fill out 12 cfr part 370?

To fill out 12 CFR Part 370, institutions need to maintain complete and accurate information on their deposit accounts to facilitate the rapid payment of insured deposits to customers in case of failure.

What is the purpose of 12 cfr part 370?

The purpose of 12 CFR Part 370 is to ensure that insured depository institutions have the necessary information to quickly pay insured deposits to customers if the institution fails.

What information must be reported on 12 cfr part 370?

Insured depository institutions must report information on their deposit accounts, including account balances and ownership information, on 12 CFR Part 370.