Limited Exception for a Capped Amount of Reciprocal Deposits from Treatment as Brokered Deposits
The FDIC is amending its regulations that implement brokered deposits and interest rate restrictions to conform with recent changes to section 29 of the Federal Deposit Insurance Act made by section 202 of the Economic Growth, Regulatory Relief, and Consumer Protection Act related to reciprocal deposits, which took effect on May 24,2018. The FDIC is also making conforming amendments to the FDIC’s regulationsgoverning deposit insurance assessments.
Update: The FDIC published technical amendments in the April 15, 2019, Federal Register to address questions raised about the meaning of a sentence in the preamble of the final rule.
2019-07048 (technical amendments)
|Date proposed:||September 13, 2018|
|Comments due date:|
|Final rule effective date:||March 6, 2019; technical amendments effective April 15, 2019|
|Rule compliance date:||February 4, 2019 (publication date in Federal Register)|
|Related Reg Report item(s):|