FDIC 370

FDIC 370 refers to a rule issued by the Federal Deposit Insurance Corporation (FDIC) that requires certain large insured banks in the United States to maintain detailed, up-to-date records to support rapid deposit insurance determinations in the event of a bank failure. Officially titled the Recordkeeping for Timely Deposit Insurance Determination rule, FDIC 370 aims to ensure that the FDIC can quickly and accurately identify insured and uninsured deposits, enabling faster payouts to depositors and reducing disruption to the financial system.

The rule applies to banks with more than two million deposit accounts and requires them to collect and maintain specific data points, implement systems capable of running insurance determination calculations, and ensure data quality and accessibility.

Compliance with FDIC 370 not only supports regulatory readiness but also enhances operational resilience and strengthens depositor trust in the banking system.