federal_register: 2010-24594

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2010-24594 Deposit Insurance Regulations; Unlimited Coverage for Noninterest-bearing Transaction Accounts Proposed Rule The FDIC is proposing to amend its regulations to implement section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"),\1\ providing for unlimited deposit insurance for "noninterest-bearing transaction accounts" for two years starting December 31, 2010. This unlimited coverage for "noninterest-bearing transaction accounts" is similar but not identical to the protection provided for such account owners under the FDIC's Transaction Account Guarantee Program ("TAGP"). The proposed rule serves as a vehicle for the FDIC Board of Directors to announce that it will not extend the TAGP beyond the scheduled expiration date of December 31, 2010. Because of the differences between the TAGP and the new statutory provision, changes to the rules are necessary. --------------------------------------------------------------------------- 2010-09-30 2010 9 https://www.federalregister.gov/documents/2010/09/30/2010-24594/deposit-insurance-regulations-unlimited-coverage-for-noninterest-bearing-transaction-accounts https://www.govinfo.gov/content/pkg/FR-2010-09-30/pdf/2010-24594.pdf Federal Deposit Insurance Corporation 164 The FDIC is proposing to amend its regulations to implement section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act"),\1\ providing for unlimited deposit insurance for "noninterest-bearing transaction accounts" for...  

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