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

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