The Federal Deposit Insurance Corporation (FDIC) has approved plans to strengthen record-keeping requirements for banks with a large number of deposit accounts.
The proposal has been given the go-ahead in order to ensure that customers receive their payments quickly if their financial providers collapse.
The requirements would apply to insured depository institutions with over 2 million deposit accounts, with the institutions required to maintain complete and accurate data on each depositor, the US regulator said in a statement.
The new rule also mandates these institutions to ensure that their IT systems can calculate the amount of insured money for each depositor within 24 hours of a failure.
Smaller institutions including community banks will be exempt from the rule.
FDIC chairman Martin Gruenberg said: "This proposal would bolster the FDIC’s ability to provide depositors at banks with a large number of deposit accounts the same rapid access to their insured funds in the case of a failure as the FDIC does in smaller resolutions."