Federal Deposit Insurance Corporation February 10, 2020 – Federal Register Recent Federal Regulation Documents

Unsafe and Unsound Banking Practices: Brokered Deposits Restrictions
Document Number: 2019-28275
Type: Proposed Rule
Date: 2020-02-10
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
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.