Would the FDIC request an extract of deposit and other account information into the standard format prior to failure?
The FDIC routinely request extracts of depositor data from insured depository institutions at the onset of significant financial stress, which in most cases is well in advance of failure. Analysis of these data is important to help understand the depository institution’s depositor base and would be used in part to determine the necessary account thresholds and percentages used in the provisional hold process. Back to top The FDIC will want a data extract in a standard format by close of business the day following failure based on end-of-day ledger balances on the day of failure. Would the FDIC request additional extracts of data for days subsequent to the date of failure? The FDIC will not request additional data extracts on days subsequent to failure. Depending on the systems and procedures used by the Covered Institution the Hold file provided the day following failure may not contain information on the FDIC provisional holds. If this is the case a second Hold file should be generate
