FEDERAL DEPOSIT INSURANCE CORPORATION ISSUES PROPOSED RULE: STATE BANK PARITY

WASHINGTON, Sept. 22 -- Federal Deposit Insurance Corporation has issued a proposed rule called: State Bank Parity.

The proposed rule was published in the Federal Register on Sept. 22 by Hanoi Veras, Executive Secretary.

Summary: The FDIC is proposing amendments to its regulations to recognize parity between out-of-State State banks and national banks concerning the application of host State laws when State banks provide services outside of their chartering State. Under the proposed rule, when host State laws do not apply to a national bank, those laws would similarly not apply to an out-of-State State bank providing services in the host State with or without a branch. Specifically, the amendments would provide that, for purposes of secti...