Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions
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.
|Date proposed:||Dec. 12, 2019|
|Comments due date:||
April 10, 2020
|Final rule effective date:|
|Rule compliance date:|
|Related Reg Report item(s):|