FDIC Demands Utoppia Inc. and Its Officers Cease Making False or Misleading Representations about Deposit Insurance in English and Spanish
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) issued a letter demanding Utoppia Inc. (Utoppia) and certain of its officers cease and desist from making false and misleading statements about FDIC deposit insurance and take immediate corrective action to address these false or misleading statements.
Remarks by Chairman Martin J. Gruenberg on Recent Bank Failures and the Federal Regulatory Response before the Committee on Banking, Housing, and Urban Affairs,...
Chairman Brown, Ranking Member Scott and Members of the Committee, thank you for the opportunity to appear before the Committee today to address recent bank failures and the Federal regulatory response.
Consolidated Reports of Condition and Income for First Quarter 2023
The attached materials pertain to the Consolidated Reports of Condition and Income (Call Report) for the March 31, 2023, report date and provide guidance on certain reporting issues. This Financial Institution Letter and the attached Supplemental Instructions should be shared with the individual responsible for preparing the Call Report at your institution. Please plan to complete as early as possible the preparation, editing, and review of your institution’s Call Report data and the submission of these data to the agencies’ Central Data Repository (CDR). Starting your preparation early will help you identify and resolve any edit exceptions before the submission deadline. If you later find that certain information needs to be revised, please make the appropriate changes to your Call Report data and promptly submit the revised data file to the CDR.
First-Citizens Bank & Trust Company, Raleigh, NC, to Assume All Deposits and Loans of Silicon Valley Bridge Bank, N.A., From the FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association, by First–Citizens Bank & Trust Company, Raleigh, North Carolina.
Statement by Chairman Martin J. Gruenberg on the Work of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE)
“Appraisal bias and the effect it has on the wealth of communities of color is a critically important issue that merits the comprehensive and thoughtful attention provided by the PAVE Task Force member agencies. Since the release of the Action Plan one year ago, FDIC staff have been closely coordinating and collaborating with staff from other PAVE member agencies to fulfill the PAVE Action Plan’s commitments and recommendations. These efforts are helping to shift the public’s understanding of appraisal bias from a rare event affecting an occasional homeowner to a significant issue that affects wealth formation and opportunities in minority communities nationwide—the same communities that have suffered historically from discrimination, redlining, and disinvestment.”
FDIC Extends Bid Window For Silicon Valley Bridge Bank, N.A.
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) has extended the bidding process for Silicon Valley Bridge Bank, National Association, Santa Clara, California. There has been substantial interest from multiple parties, and the FDIC and the bidders need more time to explore all options in order to maximize value and achieve an optimal outcome.
Subsidiary of New York Community Bancorp, Inc., to Assume Deposits of Signature Bridge Bank, N.A., From the FDIC
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for substantially all deposits and certain loan portfolios of Signature Bridge Bank, National Association, by Flagstar Bank, National Association, Hicksville, New York, a wholly owned subsidiary of New York Community Bancorp, Inc., Westbury, New York.
Joint Statement by the Department of the Treasury, Federal Reserve, FDIC, and OCC
Washington, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, FDIC Chairman Martin J. Gruenberg, and Acting Comptroller of the Currency Michael J. Hsu:
Financial Institutions are Required to Meet Contractual Obligations with Bridge Banks
In recent days, the FDIC has established two bridge banks, Silicon Valley Bridge Bank, N.A. and Signature Bridge Bank, N.A., to assume the deposits and obligations of two failing banks. All contracts entered into with banks before they failed, and their counterparties were transferred into the bridge bank by the FDIC as receiver. Accordingly, vendors and counterparties with contracts with the bridge bank are legally obligated to continue to perform under the contracts, and the bridge is obligated to and has the full ability to make timely payments to vendors and counterparties and otherwise perform its obligations under the contract.
FDIC Acts to Protect All Depositors of the former Silicon Valley Bank, Santa Clara, California
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today transferred all deposits—both insured and uninsured—and substantially all assets of the former Silicon Valley Bank of Santa Clara, California, to a newly created, full-service FDIC-operated ‘bridge bank’ in an action designed to protect all depositors of Silicon Valley Bank.
FDIC Establishes Signature Bridge Bank, N.A., as Successor to Signature Bank, New York, NY
WASHINGTON — Signature Bank, New York, NY, was closed today by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC transferred all the deposits and substantially all of the assets of Signature Bank to Signature Bridge Bank, N.A., a full-service bank that will be operated by the FDIC as it markets the institution to potential bidders.
Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC
Washington, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg:
Regulator Name: Federal Deposit Insurance Corporation
Jurisdiction: United States
Email: [email protected]
The AMF presents its proposals to improve the readability of financial product fees in European law
As part of the ongoing discussions on the European Commission’s Retail Investment Strategy, the AMF is publishing, following work with the Financial Sector Consultative Committee (FSCC), a pro
Authority appoints new Head of Operations
Published on: 28 March 2023 The Isle of Man Financial Services Authority has announced the appointment of Scott Quayle as its new Head of Operations.
Counter Terrorism Designations; Syria Designations
SPECIALLY DESIGNATED NATIONALS LIST UPDATE The following individuals have been added to OFAC's SDN List: ABU ZUREIK, Imad (Arabic: عماد ابو زریق) (a.k.a. ABU ZUREIQ, Imad),...
ESMA publishes guidance on fractional shares
See the content published by the European Securities and Markets Authority (ESMA) here: Read more