---
kind: "section"
citation: "12 C.F.R. § 370.3"
title: "12"
number: "370.3"
heading: "Information technology system requirements."
url: "https://uscodex.org/cfr/12/370.3"
---

# §370.3. Information technology system requirements.

- (a) A covered institution must configure its information technology system to be capable of performing the functions set forth in [paragraph (b)](#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)](/cfr/12/370.4.md?p=a) but instead in the manner prescribed under § [370.4(b)](/cfr/12/370.4.md?p=b), [(c)](/cfr/12/370.4.md?p=c) or [(d)](/cfr/12/370.4.md?p=d), the covered institution's information technology system must be able to perform the functions set forth in [paragraph (b)](#b) of this section upon input by the FDIC of additional information collected after failure of the covered institution.
- (b) Each covered institution's information technology system must be capable of:
  - (1) Accurately calculating the deposit insurance coverage for each deposit account in accordance with [12 CFR part 330](/cfr/12/part330.md);
  - (2) Generating and retaining output records in the data format and layout specified in appendix B to this part;
  - (3) Restricting access to some or all of the deposits in a deposit account until the FDIC has made its deposit insurance determination for that deposit account using the covered institution's information technology system; and
  - (4) Debiting from each deposit account the amount that is uninsured as calculated pursuant to [paragraph (b)(1)](#b-1) of this section.

## Notes

### Authority

Authority: 12 U.S.C. 1817(a)(9), 1819 (Tenth), 1821(f)(1), 1822(c), 1823(c)(4).

### Source

Source: 84 FR 37042, July 30, 2019, unless otherwise noted.