Source: https://gov.ecfr.io/cgi-bin/text-idx?mc=true&node=pt12.6.370&rgn=div5
Timestamp: 2019-04-21 02:10:43+00:00

Document:
§370.3 Information technology system requirements.
§370.5 Actions required for certain deposit accounts with transactional features.
§370.9 Communication with the FDIC.
Authority: 12 U.S.C. 1817(a)(9), 1819 (Tenth), 1821(f)(1), 1822(c), 1823(c)(4).
Source: 81 87759, Dec. 5, 2016, unless otherwise noted.
Unless otherwise provided in this part, each “covered institution” (defined in §370.2(a)) is required to implement the information technology system and recordkeeping capabilities needed to calculate the amount of deposit insurance coverage available for each deposit account in the event of its failure. Doing so will improve the FDIC's ability to fulfill its statutory mandates to pay deposit insurance as soon as possible after a covered institution's failure and to resolve a covered institution at the least cost to the Deposit Insurance Fund.
(a) Account holder means the person or entity who has opened a deposit account with a covered institution and with whom the covered institution has a direct legal and contractual relationship with respect to the deposit.
(b) Brokered deposit has the same meaning as provided in 12 CFR 337.6(a)(2).
(c) Covered institution means an insured depository institution which, based on its Reports of Condition and Income filed with the appropriate federal banking agency, has 2 million or more deposit accounts during the two consecutive quarters preceding the effective date of this part or thereafter.
(d) Compliance date means the date that is three years after the later of the effective date of this part or the date on which an insured depository institution becomes a covered institution.
(e) Deposit has the same meaning as provided under section 3(l) of the Federal Deposit Insurance Act (12 U.S.C. 1813(l)).
(f) Deposit account records has the same meaning as provided in 12 CFR 330.1(e).
(g) Ownership rights and capacities are set forth in 12 CFR part 330.
(h) Payment instrument means a check, draft, warrant, money order, traveler's check, electronic instrument, or other instrument, payment of funds, or monetary value (other than currency).
(i) Standard maximum deposit insurance amount (or “SMDIA”) has the same meaning as provided pursuant to section 11(a)(1)(E) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(E)) and 12 CFR 330.1(o).
(j) Transactional features with respect to a deposit account means that the depositor or account holder can make transfers or withdrawals from the deposit account to make payments or transfers to third persons or others (including another account of the depositor or account holder at the same institution or at a different institution) by means of a negotiable or transferable instrument, payment order of withdrawal, check, draft, prepaid account access device, debit card, or other similar order made by the depositor and payable to third parties, or by means of a telephonic (including data transmission) agreement, order or instruction, or by means of an instruction made at an automated teller machine or similar terminal or unit. For purposes of this definition, “telephonic (including data transmission) agreement, order or instruction” includes orders and instructions made by means of facsimile, computer, internet, handheld device, or other similar means.
(k) Unique identifier means an alpha-numeric code associated with an individual or entity that is used consistently and continuously by a covered institution to monitor the covered institution's relationship with that individual or entity.
(a) A covered institution must configure its information technology system to be capable of performing the functions set forth in paragraph (b) of this section within 24 hours after the appointment of the FDIC as receiver. To the extent that a covered institution does not maintain its deposit account records in the manner prescribed under §370.4(a) but instead in the manner prescribed under §370.4(b) or (c), the covered institution's information technology system must be able to perform the functions set forth in paragraph (b) of this section upon input by the FDIC of additional information collected from account holders after failure of the covered institution.
(4) Debiting from each deposit account the amount that is uninsured as calculated pursuant to paragraph (b)(1) of this section.
(iv) Grantor and each beneficiary, if the deposit account is held by the covered institution as the trustee of an irrevocable trust that is insured pursuant to 12 CFR 330.12.
(2) The applicable ownership right and capacity code listed and described in Appendix A to this part.
(b) Alternative recordkeeping requirements. As permitted under this paragraph, a covered institution may maintain in its deposit account records less information than is required under paragraph (a) of this section.
(ii) The corresponding “pending reason” code in data field 2 of the pending file format set forth in Appendix B (and need not maintain a “right and capacity” code).
(iii) The corresponding “pending reason” code in data field 2 of the pending file format set forth in Appendix B (and need not maintain a “right and capacity” code).
(c) Recordkeeping requirements for official items. A covered institution must maintain in its deposit account records the information needed for its information technology system to meet the requirements set forth in §370.3 with respect to accounts held in the name of the covered institution from which withdrawals are made to honor a payment instrument issued by the covered institution, such as a certified check, loan disbursement check, interest check, traveler's check, expense check, official check, cashier's check, money order, or any similar payment instrument that the FDIC identifies in guidance issued to covered institutions in connection with this part. To the extent that the covered institution does not have such information, it need only maintain in its deposit account records for those accounts the corresponding “pending reason” code in data field 2 of the pending file format set forth in Appendix B (and need not maintain “right and capacity” codes).
(a) For each deposit account with transactional features for which the covered institution maintains its deposit account records in accordance with §370.4(b)(1), a covered institution must certify to the FDIC that the account holder will provide to the FDIC the information needed for the covered institution's information technology system to calculate deposit insurance coverage as set forth in §370.3(b) within 24 hours after the appointment of the FDIC as receiver. Such certification may be part of the annual certification of compliance required pursuant to §370.10(a)(1).
(4) Accounts held in connection with an employee benefit plan (as defined in 12 CFR 330.15(f)(2)).
(c) The covered institution's failure to provide the certification required under paragraph (a) of this section shall be deemed not to constitute a violation of this part if the FDIC has granted the covered institution relief from that certification requirement.
(a) A covered institution must satisfy the information technology system and recordkeeping requirements set forth in this part before the compliance date.
(b) A covered institution may submit a request to the FDIC for an extension of its compliance date. The request shall state the amount of additional time needed to meet the requirements of this part, the reason(s) for which such additional time is needed, and the total number and dollar value of accounts for which deposit insurance coverage could not be calculated using the covered institution's information technology system were the covered institution to fail as of the date of the request. The FDIC's grant of a covered institution's request for extension may be conditional or time-limited.
(3) Is determined by the appropriate federal banking agency or the FDIC in consultation with the appropriate federal banking agency to be experiencing a significant deterioration of capital or significant funding difficulties or liquidity stress, notwithstanding the composite rating of the covered institution by its appropriate federal banking agency in its most recent report of examination.
(b) In implementing this section, the FDIC must consult with the covered institution's appropriate federal banking agency and consider the complexity of the covered institution's deposit system and operations, extent of the covered institution's asset quality difficulties, volatility of the institution's funding sources, expected near-term changes in the covered institution's capital levels, and other relevant factors appropriate for the FDIC to consider in its role as insurer of the covered institution.
(a) Exemption. A covered institution may submit a request in the form of a letter to the FDIC for an exemption from this part if it demonstrates that it does not take deposits from any account holder which, when aggregated, would exceed the SMDIA for any owner of the funds on deposit and will not in the future.
(b) Exception. A covered institution may submit a request in the form of a letter to the FDIC for exception from any specific aspect of the information technology system requirements, recordkeeping requirements, certification requirements, or reporting requirements set forth in this part if circumstances exist that would make it impracticable or overly burdensome to meet those requirements. In its request letter, the covered institution must demonstrate the need for exception, describe the impact of an exception on the ability to quickly and accurately calculate deposit insurance for the related deposit accounts, and state the number of, and the dollar value of deposits in, the related deposit accounts.
(c) Release from this part. A covered institution may submit a request in the form of a letter to the FDIC for release from this part if, based on its Reports of Condition and Income filed with the appropriate federal banking agency, it has less than two million deposit accounts during any three consecutive quarters after becoming a covered institution.
(d) Release from 12 CFR 360.9 requirements. A covered institution is released from the provisional hold and standard data format requirements of 12 CFR 360.9 upon submitting to the FDIC the compliance certification required under §370.10(a).
(e) FDIC approval of a request. The FDIC will consider all requests submitted in writing by a covered institution on a case-by-case basis in light of the objectives of this part, and the FDIC's grant of any request made by a covered institution pursuant to this section may be conditional or time-limited.
(a) Point of contact. Not later than ten business days after either the effective date of this part or becoming a covered institution, a covered institution must notify the FDIC of the person(s) responsible for implementing the recordkeeping and information technology system capabilities required by this part.
(b) Address. Point-of-contact information, reports and requests made under this part shall be submitted in writing to: Office of the Director, Division of Resolutions and Receiverships, Federal Deposit Insurance Corporation, 550 17th Street NW., Washington, DC 20429-0002.
(a) Certification and report. A covered institution shall submit to the FDIC a certification of compliance and a deposit insurance coverage summary report on or before the compliance date and annually thereafter.
(ii) Be signed by the covered institution's chief executive officer or chief operating officer.
(v) By deposit account type, the total number of, and dollar amount of deposits in, deposit accounts for which the covered institution's information technology system cannot calculate deposit insurance coverage using information currently maintained in the covered institution's deposit account records.
(3) If a covered institution experiences a significant change in its deposit taking operations, the FDIC may require that it submit a certification of compliance and a deposit insurance coverage summary report more frequently than annually.
(b) FDIC Testing. (1) The FDIC will conduct periodic tests of a covered institution's compliance with this part. These tests will begin no sooner than the last day of the first calendar quarter following the compliance date and would occur no more frequently than on a three-year cycle thereafter, unless there is a material change to the covered institution's information technology system, deposit-taking operations, or financial condition.
(2) A covered institution shall provide the appropriate assistance to the FDIC as the FDIC tests the covered institution's ability to satisfy the requirements set forth in this part.
(c) Effect of pending requests. A covered institution that has submitted a request pursuant to §370.6(b) or §370.8(a) through (c) will not be considered to be in violation of this part as to the requirements that are the subject of the request while awaiting the FDIC's response to such request.
A covered institution must use the codes defined below when assigning ownership right and capacity codes.
SGL Single Account (12 CFR 330.6): An account owned by one person with no testamentary or “payable-on-death” beneficiaries. It includes individual accounts, sole proprietorship accounts, single-name accounts containing community property funds, and accounts of a decedent and accounts held by executors or administrators of a decedent's estate.
JNT Joint Account (12 CFR 330.9): An account owned by two or more persons with no testamentary or “payable-on-death” beneficiaries (other than surviving co-owners). An account does not qualify as a joint account unless: (1) All co-owners are living persons; (2) each co-owner has personally signed a deposit account signature card (except that the signature requirement does not apply to certificates of deposit, to any deposit obligation evidenced by a negotiable instrument, or to any account maintained on behalf of the co-owners by an agent or custodian); and (3) each co-owner possesses withdrawal rights on the same basis.
(1) Payable-on-Death Account (Informal Revocable Trust Account): An account owned by one or more persons with one or more testamentary or “payable-on-death” beneficiaries.
(2) Revocable Living Trust Account (Formal Revocable Trust Account): An account in the name of a formal revocable “living trust” with one or more grantors and one or more testamentary beneficiaries.
IRR Irrevocable Trust Account (12 CFR 330.13): An account in the name of an irrevocable trust (unless the trustee is an insured depository institution, in which case the applicable code is DIT.
CRA Certain Other Retirement Accounts (12 CFR 330.14 (b)-(c)) to the extent that participants under such plan have the right to direct the investment of assets held in individual accounts maintained on their behalf by the plan, including an individual retirement account described in section 408(a) of the Internal Revenue Code (26 U.S.C. 408(a)), an account of a deferred compensation plan described in section 457 of the Internal Revenue Code (26 U.S.C. 457), an account of an individual account plan as defined in section 3(34) of the Employee Retirement Income Security Act (29 U.S.C. 1002), a plan described in section 401(d) of the Internal Revenue Code (26 U.S.C. 401(d)).
EBP Employee Benefit Plan Account (12 CFR 330.14): An account of an employee benefit plan as defined in section 3(3) of the Employee Retirement Income Security Act (29 U.S.C. 1002), including any plan described in section 401(d) of the Internal Revenue Code (26 U.S.C. 401(d)), but not including any account classified as a Certain Retirement Account.
BUS Business/Organization Account (12 CFR 330.11): An account of an organization engaged in an `independent activity' (as defined in §330.1(g)), but not an account of a sole proprietorship.
a. Corporation Account: An account owned by a corporation.
b. Partnership Account: An account owned by a partnership.
c. Unincorporated Association Account: An account owned by an unincorporated association (i.e., an account owned by an association of two or more persons formed for some religious, educational, charitable, social, or other noncommercial purpose).
GOV1-GOV2-GOV3 Government Account (12 CFR 330.15): An account of a governmental entity.
GOV1 All time and savings deposit accounts of the United States and all time and savings deposit accounts of a state, county, municipality, or political subdivision depositing funds in an insured depository institution in the state comprising the public unit or wherein the public unit is located (including any insured depository institution having a branch in said state).
GOV2 All demand deposit accounts of the United States and all demand deposit accounts of a state, county, municipality, or political subdivision depositing funds in an insured depository institution in the state comprising the public unit or wherein the public unit is located (including any insured depository institution having a branch in said state).
GOV3 All deposits, regardless of whether they are time, savings or demand deposit accounts of a state, county, municipality or political subdivision depositing funds in an insured depository institution outside of the state comprising the public unit or wherein the public unit is located.
MSA Mortgage Servicing Account (12 CFR 330.7(d)): An account held by a mortgage servicer, funded by payments by mortgagors of principal and interest.
PBA Public Bond Accounts (12 CFR 330.15(c)): An account consisting of funds held by an officer, agent or employee of a public unit for the purpose of discharging a debt owed to the holders of notes or bonds issued by the public unit.
DIT IDI as trustee of irrevocable trust accounts (12 CFR 330.12): “Trust funds” (as defined in §330.1(q)) account held by an insured depository institution as trustee of an irrevocable trust.
ANC Annuity Contract Accounts (12 CFR 330.8): Funds held by an insurance company or other corporation in a deposit account for the sole purpose of funding life insurance or annuity contracts and any benefits incidental to such contracts.
BIA Custodian accounts for American Indians (12 CFR 330.7(e)): Funds deposited by the Bureau of Indian Affairs of the United States Department of the Interior (the “BIA”) on behalf of American Indians pursuant to 25 U.S.C. 162(a), or by any other disbursing agent of the United States on behalf of American Indians pursuant to similar authority, in an insured depository institution.
DOE IDI Accounts under Department of Energy Program: Funds deposited by an insured depository institution pursuant to the Bank Deposit Financial Assistance Program of the Department of Energy.
The output files will include the data necessary for the FDIC to determine the deposit insurance coverage in a resolution. A covered institution must have the capability to prepare and maintain the files detailed below. These files must be prepared in successive iterations as the covered institution receives additional data from external sources necessary to complete any pending deposit insurance calculations. The unique identifier is required in all four files to link the customer information. All files are pipe delimited. Do not pad leading and trailing spacing or zeros for the data fields.
Customer File. Customer File will be used by the FDIC to identify the customers. One record represents one unique customer.
1. CS_Unique_ID This field is the unique identifier that is the primary key for the depositor data record. It will be generated by the covered institution and there shall not be duplicates Variable Character.
2. CS_Govt_ID This field shall contain the ID number that identifies the entity based on a government issued ID or corporate filling. Populate as follows: Variable Character.
3. CS_Govt_ID_Type The valid customer identification types, are noted below: Character (3).
4. CS_Type The customer type field indicates the type of entity the customer is at the covered institution. The valid values are: Character (3).
5. CS_First_Name Customer first name. Use only for the name of individuals and the primary contact for entity Variable Character.
6. CS_Middle_Name Customer middle name. Use only for the name of individuals and the primary contact for entity Variable Character.
7. CS_Last_Name Customer last name. Use only for the name of individuals and the primary contact for entity Variable Character.
8. CS_Name_Suffix Customer suffix Variable Character.
9. CS_Entity_Name The registered name of the entity. Do not use this field if the customer is an individual Variable Character.
10. CS_Street_Add_Ln1 Street address line 1. The current account statement mailing address of record Variable Character.
11. CS_Street_Add_Ln2 Street address line 2. If available, the second address line Variable Character.
12. CS_Street_Add_Ln3 Street address line 3. If available, the third address line Variable Character.
13. CS_City The city associated with the permanent legal address Variable Character.
14. CS_State The state for United States addresses or state/province/county for international addresses Variable Character.
15. CS_ZIP The Zip/Postal Code associated with the customers' permanent legal address Variable Character.
16. CS_Country The country associated with the permanent legal address. Provide the country name or the standard International Organization for Standardization (ISO) country code Variable Character.
17. CS_Telephone Customer telephone number. The telephone number on record for the customer, including the country code if not within the United States Variable Character.
18. CS_Email The email address on record for the customer Variable Character.
19. CS_Outstanding_Debt_Flag This field indicates whether the customer has outstanding debt with covered institution. This field may be used by the FDIC to determine offsets. Enter “Y” if customer has outstanding debt with covered institutions, enter “N” otherwise Character (1).
20. CS_Security_Pledge_Flag This field shall only be used for Government customers. This field indicates whether the covered institution has pledged securities to the government entity, to cover any shortfall in deposit insurance. Enter “Y” if the government entity has outstanding security pledge with covered institutions, enter “N” otherwise Character (1).
Account File. The Account File contains the deposit ownership rights and capacities information, allocated balances, insured amounts, and uninsured amounts. The balances are in U.S. dollars. The Account file is linked to the Customer File by the CS_Unique_ID.
1. CS_Unique_ID This field is the unique identifier that is the primary key for the depositor data record. It will be generated by the covered institution and there cannot be duplicates Variable Character.
2. DP_Acct_Identifier Deposit account identifier. The primary field used to identify a deposit account Variable Character.
The account identifier may be composed of more than one physical data element to uniquely identify a deposit account.
3. DP_Right_Capacity Account ownership categories Character (4).
4. DP_Prod_Cat Product category or classification Character (3).
—CDS—Time Deposit accounts and Certificate of Deposit accounts, including any accounts with specified maturity dates that may or may not be renewable.
5. DP_Allocated_Amt The current balance in the account at the end of business on the effective date of the file, allocated to a specific owner in that insurance category Decimal (14,2).
For JNT accounts, this is a calculated field that represents the allocated amount to each owner in JNT category.
For REV accounts, this is a calculated field that represents the allocated amount to each owner-beneficiary in REV category.
For other accounts with only one owner, this is the account current balance.
6. DP_Acc_Int Accrued interest allocated similarly as data field #5 DP_Allocated_Amt Decimal (14,2).
The amount of interest that has been earned but not yet paid to the account as of the date of the file.
7. DP_Total_PI Total amount adding #5 DP_Allocated_Amt and #6 DP_Acc_Int Decimal (14,2).
8. DP_Hold_Amount Hold amount on the account Decimal (14,2).
9. DP_Insured_Amount The insured amount of the account Decimal (14,2).
10. DP_Uninsured_Amount The uninsured amount of the account Decimal (14,2).
11. DP_Prepaid_Account_Flag This field indicates a prepaid account with covered institution. Enter “Y” if account is a prepaid account with covered institutions, enter “N” otherwise Character (1).
12. DP_PT_Account_Flag This field indicates a pass-through account with covered institution. Enter “Y” if account is a pass-through with covered institutions, enter “N” otherwise Character (1).
13. DP_PT_Trans_Flag This field indicates whether the fiduciary account has sub-accounts that have transactional features. Enter “Y” if account has transactional features, enter “N” otherwise Character (1).
Account Participant File. The Account Participant File will be used by the FDIC to identify account participants, to include the official custodian, beneficiary, bond holder, mortgagor, or employee benefit plan participant, for each account and account holder. One record represents one unique account participant. The Account Participant File is linked to the Account File by CS_Unique_ID and DP_Acct_Identifier.
2. DP_Acct_Identifier Deposit account identifier. The primary field used to identify a deposit account. Variable Character.
4. DP_Prod_Category Product category or classification Character (3).
5. AP_Allocated_Amount Amount of funds attributable to the account participant as an account holder (e.g., Public account holder of a public bond account) or the amount of funds entitled to the beneficiary for the purpose of insurance determination (e.g., Revocable Trust) Decimal (14,2).
6. AP_Participant_ID This field is the unique identifier for the Account Participant. It will be generated by the covered institution and there shall not be duplicates. If the account participant is an existing bank customer this field is the same as CS_Unique_ID field Variable Character.
7. AP_Govt_ID This field shall contain the ID number that identifies the entity based on a government issued ID or corporate filling. Populate as follows: Variable Character.
8. AP_Govt_ID_Type The valid customer identification types, are: Character (3).
9. AP_First_Name Customer first name. Use only for the name of individuals and the primary contact for entity Variable Character.
10. AP_Middle_Name Customer middle name. Use only for the name of individuals and the primary contact for entity Variable Character.
11. AP_Last_Name Customer last name. Use only for the name of individuals and the primary contact for entity Variable Character.
12. AP_Entity_Name The registered name of the entity. Do not use this field if the participant is an individual Variable Character.
13. AP_Participant_Type This field is used as the participant type identifier. The field will list the “beneficial owner” type: Character (3).
Pending File. The Pending File contains the information needed for the FDIC to contact the owner or agent requesting additional information to complete the deposit insurance calculation. Each record represents a deposit account.
2. Pending_Reason Reason code for the account to be included in Pending file Character (5).
3. DP_Acct_Identifier Deposit account identifier. The primary field used to identify a deposit account Variable Character.
4. DP_Right_Capacity Account ownership categories Character (4).
5. DP_Prod_Category Product category or classification Character (3).
6. DP_Cur_Bal Current balance Decimal (14,2).
7. DP_Acc_Int Accrued interest Decimal (14,2).
8. DP_Total_PI Total of principal and accrued interest Decimal (14,2).
9. DP_Hold_Amount Hold amount on the account Decimal (14,2).
10. DP_Prepaid_Account_Flag This field indicates a prepaid account with covered institution. Enter “Y” if account is a prepaid account, enter “N” otherwise Character (1).
11. CS_Govt_ID This field shall contain the ID number that identifies the entity based on a government issued ID or corporate filling. Populate as follows: Variable Character.
12. CS_Govt_ID_Type The valid customer identification types: Character (3).
13. CS_First_Name Customer first name. Use only for the name of individuals and the primary contact for entity Variable Character.
14. CS_Middle_Name Customer middle name. Use only for the name of individuals and the primary contact for entity Variable Character.
15. CS_Last_Name Customer last name. Use only for the name of individuals and the primary contact for entity Variable Character.
16. CS_Name_Suffix Customer suffix Variable Character.
17. CS_Entity_Name The registered name of the entity. Do not use this field if the customer is an individual Variable Character.
18. CS_Street_Add_Ln1 Street address line 1 Variable Character.
19. CS_Street_Add_Ln2 Street address line 2 Variable Character.
20. CS_Street_Add_Ln3 Street address line 3 Variable Character.
21. CS_City The city associated with the permanent legal address Variable Character.
22. CS_State The state for United States addresses or state/province/county for international addresses Variable Character.
23. CS_ZIP The Zip/Postal Code associated with the customers' permanent legal address Variable Character.
24. CS_Country The country associated with the permanent legal address. Provide the country name or the standard International Organization for Standardization (ISO) country code Variable Character.
25. CS_Telephone Customer telephone number. The telephone number on record for the customer, including the country code if not within the United States Variable Character.
26. CS_Email The email address on record for the customer Variable Character.
27. CS_Outstanding_Debt_Flag This field indicates whether the customer has outstanding debt with covered institution. This field may be used to determine offsets. Enter “Y” if customer has outstanding debt with covered institutions, enter “N” otherwise Character (1).
28. CS_Security_Pledge_Flag This field indicates whether the CI has pledged securities to the government entity, to cover any shortfall in deposit insurance. Enter “Y” if the government entity has outstanding security pledge with covered institutions, enter “N” otherwise. This field shall only be used for Government customers Character (1).
29. DP_PT_Account_Flag This field indicates a pass-through account with covered institution. Enter “Y” if account is a pass-through with covered institutions, enter “N” otherwise Character (1).
30. PT_Parent_Customer_ID This field contains the unique identifier of the parent customer ID who has the fiduciary responsibility at the covered institution Variable Character.
31. DP_PT_Trans_Flag This field indicates whether the fiduciary account has sub-accounts that have transactional features. Enter “Y” if account has transactional features, enter “N” otherwise Character (1).

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