Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions

Title:
Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions
Subject: Brokered deposits
Agency: FDIC
Status: Proposed rule
Summary:
The FDIC is inviting comment on proposed revisions to its regulations relating to the brokered deposits restrictions that apply to less than well capitalized insured depository institutions. The proposed rule would create a new framework for analyzing certain provisions of the “deposit broker” definition, including “facilitating” and “primary purpose.” The proposed rule would also establish an application and reporting process with respect to the primary purpose exception. The application process would be available to insured depository institutions and third parties that wish to utilize the exception.
FR Doc: 2019-28275
Date proposed: Dec. 12, 2019
Comments due date:

April 10, 2020

Final rule effective date:
Rule compliance date:
Agency release:

Related Reg Report item(s):

‘New framework’ for determining what makes a brokered deposit ‘brokered’ envisioned in proposal

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