Limited Exception for a Capped Amount of Reciprocal Deposits from Treatment as Brokered Deposits

February 1, 2019 FDIC, Regulation lookup 0

Title:	Limited Exception for a Capped Amount of Reciprocal Deposits from Treatment as Brokered Deposits
Subject:	Brokered deposits
Agency:	FDIC
Status:	Final rule
Summary:	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.
FR Doc:	2018-28137 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)
Agency release:
Related Reg Report item(s):	FDIC sets final brokered deposits rule under EGRRCPA; issues ANPR as part of comprehensive reg review

WA bank fined $500k over FTC Act, RESPA violations

April 26, 2024 0

A bank that the federal bank deposit insurer said violated Federal Trade Commission (FTC) Act and Real Estate Settlement Procedures Act (RESPA) rules was assessed a $500,000 civil money penalty (CMP) in March, the Federal Deposit Insurance Corp. (FDIC) said [...]
Five new members of community banking advisory panel named; will join May 2 meeting

April 26, 2024 0

Five new members of the community banking advisory committee to the federal bank deposit insurance agency were named Friday by the organization, which also said the group will attend its first meeting May 2. The Federal Deposit Insurance Corp. (FDIC) [...]
Competing proposals to change rules on Bank Control Act withdrawn after neither can win majority of FDIC Board votes

April 25, 2024 0

Neither of two competing proposals for changes to the federal bank deposit insurer’s rules implementing the Bank Control Act (BCA) were adopted Thursday by the agency’s board after sponsors of the two proposals withdrew them, largely after it became apparent [...]
FDIC: Deposit Insurance Fund on track to reach statutory minimum before deadline

April 25, 2024 0

The federal bank deposit insurer’s Deposit Insurance Fund (DIF) reserve ratio grew from 1.11% June 2023 to 1.15% in December and remains on track to return to its statutory minimum of 1.35% before its statutory deadline of Sept. 30, 2028, [...]
CFPB’s consumer panel to meet May 15

April 25, 2024 0

A public meeting of the Consumer Advisory Board (CAB) of the federal consumer financial protection agency is slated for May 15 from 10:30 a.m. to 1 p.m. Eastern. CAB is charged with advising and consulting with the Consumer Financial Protection [...]

Related