United States:
FDIC Reminds Banks Of Proposed Rulemaking To Shorten Settlement Cycle
26 September 2017
Cadwalader, Wickersham & Taft LLP
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The FDIC reminded supervised financial institutions of a
recent FDIC proposed rulemaking – filed jointly with the
Office of the Comptroller of the Currency – to shorten the
standard settlement cycle from T+3 to T+2 (see previous coverage) for securities sold and
purchased by banks. The changes were proposed in order to conform
with the new shorter industry-wide standard settlement cycle
(i.e., T+2).
Comments on the proposal must be received by October 11, 2017
(see Federal Register notice).
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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