Data / Federal rules / 2024-22565
Recordkeeping for Custodial Accounts
The Federal Deposit Insurance Corporation published this proposed rule in the Federal Register on October 2, 2024. Comments closed on December 2, 2024.
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What the agency says
The Federal Deposit Insurance Corporation (FDIC) is proposing requirements that would strengthen FDIC-insured depository institutions' (IDI) recordkeeping for custodial deposit accounts with transactional features and preserve beneficial owners' and depositors' entitlement to the protections afforded by Federal deposit insurance. The proposal is intended to promote the FDIC's ability to promptly make deposit insurance determinations and, if necessary, pay deposit insurance claims "as soon as possible" in the event of the failure of an IDI holding custodial accounts with transactional features. The proposed requirements also are expected to result in depositor and consumer protection benefits, such as promoting timely access by consumers to their funds, even in the absence of the failure of an IDI. The requirements described in this document would only apply to IDIs offering custodial accounts with transactional features and that are not specifically exempted as provided in this document.
Key facts
- Document number
- 2024-22565
- Type
- Proposed rule
- Action
- Notice of proposed rulemaking
- Agency
- Federal Deposit Insurance Corporation
- Published
- October 2, 2024
- Comments due
- December 2, 2024
- Dates
- Comments must be received on or before December 2, 2024.
- Regulation ID (RIN)
- 3064-AG07
- Code of Federal Regulations
- 12 CFR 375
- Topics
- Reporting and recordkeeping requirements
- Pages
- 20
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Everything from the Federal Deposit Insurance Corporation · Rules on reporting and recordkeeping requirements · Published in October 2024
Read from the Federal Register API, last updated 2026-10-24. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.