American Bankers Association: Telephone Briefing - The New Sweep Disclosures - What Issues Are You Missing?

American Bankers Association: Telephone Briefing - The New Sweep Disclosures - What Issues Are You Missing?

Speaking Engagement
The FDIC is, for the first time, requiring that all sweep account customers receive notices describing the status of their swept funds in the event of a bank failure. The rule will require insured institutions to review the operational aspects of all of their sweep products to determine whether swept funds will be treated as insured deposits or secured or unsecured liabilities, and to draft appropriate disclosures. But the sleeper issue in this final rule is the treatment of "hold-in-custody" sweep repo accounts. The rule may have an impact on how you treat these accounts for Call Report, reserve and Reg Q requirements. Thislive, two-hour telephone briefing, presented by the ABA,examined FDIC's new final rule and explores the issuesbanks need to address to be ready by the July deadline to send out notices.

WilmerHale partner Soo Yim was a featured speaker at this briefing and spoke on the topic of "Repo Basics."

Read More About the Event

You May Be Interested In

Health Care Privacy 101 and Beyond

September 1, 2026
Speaking Engagement

Data Subject Rights: What Happens After the Request Comes In

September 8, 2026
Speaking Engagement

2026 POWER Act Webinar for District Courts in the Ninth Circuit

September 15, 2026
Speaking Engagement
View all Events

Notice

We appreciate your interest in WilmerHale. While we are pleased to have you contact us, please keep in mind that merely contacting WilmerHale does not create an attorney-client relationship. Such a relationship will not arise until the Firm agrees in writing to represent you in connection with a particular matter. Importantly, unless and until this has occurred, you should not provide us with any confidential information, and we have no duty to keep confidential any information that we may receive from you. Thank you for your understanding.

I Accept Cancel