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The Federal Deposit Insurance Corporation (FDIC) recently issued a final rule to establish practices for determining deposit and other liability account balances in the event of an insured depository institution’s failure. This final rule articulates FDIC procedures for determining account balances in a failed institution and also imposes requirements for informing sweep account customers of the nature of their accounts and how those funds will be treated in the event of a failure.

In this one-hour webcast Carol Van Cleef, a partner in Patton Boggs' banking and financial institutions practice, and James Marino, Project Manager, Division of Resolutions and Receiverships, FDIC, will engage in a thorough examination of the final rule and related issues.

Among the topics of discussion:

• What constitutes an insured deposit
• Examples of sweep accounts
• FDIC cut off rules
• Sweep arrangements involving repurchase agreements (repos)