U.S. regulator wants better deposit data from big banks

April 21, 2015 2:10 PM

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U.S. regulator wants better deposit data from big banks

WASHINGTON (Reuters) - The largest U.S. and foreign banks would need to keep track of deposits better under a plan launched by the Federal Deposit Insurance Corporation on Tuesday, as many lenders have grown and become more complex.

Under the plan, banks with more than 2 million or so accounts would be required to enhance their record keeping and be able to calculate the amounts for each depositor by the end of any business day, the agency said.

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