Recent revisions to regulations on brokered deposits and interest rate restrictions will be discussed in a webinar set for March 17 by the federal insurer of bank deposits, the agency said Monday.
In a release, the Federal Deposit Insurance Corp. (FDIC) said the 90-minute webinar will address revisions made to its regulations in December on the two issues (in Part 337 of FDIC rules). The final rules take effect April 1 but have an extended compliance date of Jan. 1, 2022.
The FDIC said the webinar will offer an overview of the December changes to the brokered deposit and interest rate restrictions that apply to less-than-well capitalized banks and other depository institutions. It will also cover the process for banks and other entities that may need to submit a notice, application, or ongoing reports, the FDIC said, in order to rely on the primary purpose exception to the definition of “deposit broker.”
The webinar, which is open directly (no advance registration is required), will be hosted as a video conference.