FDIC rule under Dodd-Frank Act detailing new reporting requirements on consumer subprime loans and other concentrations.
As a result of the Dodd-Frank Act, new elements of the Federal Deposit Insurance Corp.’s (FDIC) proposed Large Bank Pricing Rule is scheduled to go into effect on April 1, 2013. After this date, large banks will be required to follow new reporting requirements on consumer subprime loans and other concentrations. Previously, deposit insurance rates were charged based on the size of deposits. Under the new rule, a bank’s assets will directly impact FDIC rates, meaning institutions with higher-risk consumer subprime loan amounts may be charged higher FDIC insurance rates.
The new requirements apply to large FDIC insured institutions (those with more than $10 billion in assets):
Large FDIC insured institutions, with $10 billion or more in assets.
Experian can provide analytical resources and consulting to aide clients in determining the best reporting outcome.
Validations through Decision Analytics
Experian can help large financial institutions comply with the rule and provide the required reporting with minimal effort for the client. Standard validation rules and pricing apply.
Some organizations may prefer to perform their own analysis and produce the required reporting for the FDIC. Data requests for these client-led analysis will go through the client’s Business Analyst and the standard data request rules and pricing will apply.