The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks
recently evaluated for compliance with the Community Reinvestment Act (CRA).
handles applications for insured state nonmember banks
In 1929, nearly all interbank deposits held by Federal Reserve member banks belonged to "shadowy" nonmember banks
which were outside the regulatory reach of federal regulators.
The orders cover national banks, state member banks, state nonmember banks
, bank holding companies, and bank subsidiaries.
National banks, which are supervised by the 0CC; state member banks, supervised by the Board of Governors of the Federal Reserve System; state nonmember banks
, supervised by the FDIC; and savings associations, supervised by the OTS, would have to adhere to the regulations.
This paper explains how the shift of deposits from nonmember banks
and country banks to larger member banks increased the average or "effective" reserve requirement in the 1929-1936 period.
Each Reserve Bank would accept checks from its member banks at par if they were drawn on other member banks or on nonmember banks
that paid at par, although a small per-item service charge was allowed.
The role of vault cash for nonmember banks
and thrifts is more complex than that for Federal Reserve member banks, as described in this article.
Amendment to Statement of Policy Regarding Independent External Auditing Programs of State Nonmember Banks
is intended to eliminate inconsistencies in the FDIC policy statements issued since 1988, when the original statement was issued.
Mortgage servicing rights limitation--The FDIC rule limits the amount of PMSR that state nonmember banks
can recognize for regulatory capital to 50 percent of core capital.
The Board also proposed to adopt an exception under section 106 for the financial subsidiaries of state nonmember banks
One provision allowed nonmember banks
to become clearing members of the Reserve Banks.